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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Business - Real Estate

Marwa Himdan - 2015-10-25 14:56:53
Arab Contractors Company is not to start executing Egypt's first monorail project in January 2016, Chairman Mohsen Salah announced Sunday, adding that this national project is still understudy. AC is among the Egyptian-Canadian consortium that has been chosen to carry out the project. Besides AC, the consortium includes Canadian Bombardier Inc., World's largest manufacturer of both planes and trains, in addition to Egypt's Orascom Construction (OC). The 52 kilometer (32 mile) monorail project is to link 6th of October City with Giza and Cairo governorates and set to be completed by mid-2018. He clarified that the Egyptian-Canadian consortium is still studying the mechanisms of financing the project besides the executing methods and the schedule for finishing it. Salah noted that monorail project is one of the largest projects that the company is studying in cooperation with other alliances, clarifying that the monorail train will be operated according to the international operational systems. The $1.5 billion-monorail project would include 17 stations; 12 in first phase and 5 more in the second phase. The project will be financed through a loan that Egypt’s state-run New Urban Communities Authority (NUCA) will pay it back over 14 years. Recently, the banking consortium that would provide necessary funds for the project has raised his offer to NUCA by 1.3 billion Egyptian pounds to be 6.6 billion pounds (US$822.2 million). More»
Ahmed El Demerdash & Gehad Abd El-Ghany - 2015-10-21 11:48:47
Egypt-based property developer, Amer Group is targeting revenues of 5.2 billion Egyptian pounds (US$647 million) after it delivers all the units owned by affiliated Porto Group Company, said founder Mansour Amer on Wednesday. During a press conference, Amer added that the Porto Group would deliver the units within two or three years from the current time. Porto Group plans to start building new units on an area of 1.9 million metres square in the coming six years from now as part of plans to register revenues amounting to 29 billion pounds, Amer said. More»
Marwa Hemdan - 2015-10-20 11:36:24
Leading construction firm, Arab Contractors is to complete the second phase of construction works on Al Azhar Specialized Hospital in Nasr City, east of Cairo, within April 2016, chairman Mohsen Salah announced Tuesday. The second phase is with total costs exceeding 500 million Egyptian pounds (US$62 million), the Egyptian official said. Al Azhar Specialized Hospital is set to be the biggest and latest state of the art medical centre in the Middle East region. Additionally, Salah added that Arab Contractors had delivered the first phase previous September, determined to accelerate works on the hospital and hand over the second phase within eight months only instead of 16 months. According to the Arab Contractors’ website, the hospital is built upon 25 feddans. The project scope of works: 8 main buildings, general site works: nursing units, emergency building, outpatient clinic, Therapeutic diagnosis, administrative building, physicians building, artery movement building, and electromechanical services. The hospital includes 200 beds for ICU – 25 operation theaters - 8 of them are known as Capsule rooms for being highly sterilized - 16 rooms for Xray. More»
Amwal Al Ghad English - 2015-10-20 07:58:18
The New Urban Cities Authority (NUCA) announced Monday the offering of new bids for a number of services projects. The offering comes in the context of NUCA’s keenness to boost development and to provide all services in the new cities, according to the statement. Meanwhile, head of the Sadat City Authority, Mohamed Ashour, said that two bids will be offered including two nurseries in the city. One of the two nurseries will be established in the 24th and the 28th residential zones of the city, Ashour added. He further noted that the offering will take place through a public tender amid the companies registered in the Egyptian Federation for Construction and Building Contractors (EFCBC). Meanwhile, head of the 15th of May City Authority, Ali Rashad, said that the city will witness the offering of two bids. The bids include works to prepare the 7th and 8th districts alongside the city, Rashad noted. He also added that the tenders include restructuring work on the electric cables in the Friday market on the ring road in 15th of May City. More»
Maha Essam - 2015-10-13 12:55:26
Minister of Housing, Moustafa Madbouli, met Tuesday with representatives of one of the Indian construction companies to showcase opportunities to carry out some projects in the Egyptian new capital administrative city. The meeting took place in the presence of the Indian ambassador to Cairo and the minister assistant, Randa Minshawy. The Indian officials and representatives of the company expressed their willingness to participate in the new capital city project. Madbouli suggested that the company could establish the “Indiatown” in the country’s new capital. The minister said they will rely mostly on the Egyptian construction companies to implement the projects; however some international companies would get some promising opportunities to carry out a number of projects in the new capital city. President Abdel Fattah al-Sisi has set a two-year deadline to complete the first phase of Egypt's new administrative capital project, starting January 2016. Sisi met Sunday with Former Prime Minister Ibrahim Mehleb, Minister of Housing Mostafa Madbouli, Projects Adviser to Minister of Defense Amir Ahmed Al-Sayed, head of military engineering authority General Emad al-Alfy and chief-of-staff of the military engineering authority Major General Kamel Al-Wazeer. Egypt contracted a Chinese company to start implementing the first phase, said Madbouli. Egypt signed the deal with China State Construction Engineering Corporation, also known as China Construction, in September. The company is tasked with "studying the building and financing" of the administrative part of the new capital. The new capital will be constructed over 490 kilometres squared of land and is slated to include 1.1 million housing units to serve 5 million citizens, Madbouli said. The capital will also include 10,000 roads and a new airport and will take between five to seven years to complete, he added. More»
Marwa Hemdan - 2015-10-13 11:20:35
Egypt’s leading construction firm, Arab Contractors is planning to complete works on Al Wahat – Farafra road by the end of 2015. The project is with total cost of 575 million Egyptian pounds (US$73.4 million). Tarek Sakr, Board Member and Head of the Roads Sector at Arab Contractors, said his company is working on 40 kilometres in the Al Wahat – Farafra road, which is considered to be the most prominent project in the first phase of Egypt’s new road network. Arab Contractors alongside other four contracting companies are carrying out carry out the Al Wahat – Farafra road project, with total length up to 150 kilometres, he added. Moreover, AC is implementing four road projects related to the country’s new road network, with total cost of more than one billion pounds. More»
Amwal Al Ghad English - 2015-10-13 07:51:48
A surge in the shares of real estate developer Amer Group boosted Egypt's stock market on Monday, while a recovery of Saudi Arabia's market stalled as the index ran into technical resistance. Egypt's index surged 1.4 percent as Amer jumped 8.8 percent. The exchange said it would suspend trading in the company's shares from next Monday until it completed its planned split into two companies; investors are bullish on the split, and they scrambled to buy the stock while they still could. Amer's surge ignited interest in other real estate stocks, with Palm Hills Development rising 1.9 percent and Talaat Mostafa adding 1.6 percent. More»
Amwal Al Ghad English - 2015-10-12 11:17:47
Egypt’s Orascom Construction Industries Company (OCI) registered first quarter net profit of 784.7 million Egyptian pounds (US$100 million), compared to 207.9 million pounds a year earlier. The company also said in a statement to the Egyptian bourse that total revenues had amounted to 1.6 billion pounds during the first quarter of 2015 ended on March 31. Furthermore, Orascom’s first quarter standalone financial statements revealed that the company had turned to profit by registering net profit worth 390.681 million, opposed to net loss worth 895.216 million during the first quarter of 2014. More»
Amwal Al Ghad English - 2015-10-11 08:04:34
When Abu Dhabi-run contractor Arabtec signed a deal with the Egyptian government for a high-profile housing project it was seen as a sign of the Gulf Arab state's support for President Abdel Fattah al-Sisi. But the project announced in March 2014 and a pillar of Sisi's election campaign, has stalled, possibly risking his reputation and highlighting Egypt's habit of promising grandiose ventures and then struggling to deliver. Egyptians were promised one million homes by 2020 at a cost of about 280 billion Egyptian pounds ($35.76 billion) and a raft of other projects to help the economy get back on its feet after the political upheaval that followed the 2011 uprising. Sisi was counting on billions of dollars in pledges of help from Gulf Arab oil-producing allies, backers of the army's overthrow of President Mohamed Morsi of the Muslim Brotherhood in 2013. Some of which this money has failed to materialise, and local banks are unable to finance the Arabtec project. "Egyptians want these projects now but in fact they will take years to finish," said a Western diplomat in Cairo. Egypt signed a memorandum of understanding for the project with Dubai-based Arabtec, which built the world's tallest building, the Burj Khalifa for Emaar Properties, but now it has ground to a halt. A source familiar with the matter pointed to disagreements over the contract and funding difficulties. Work has not started and Arabtec has yet to submit a building plan. Arabtec declined to comment, while Abu Dhabi officials could not be reached for comment. Abu Dhabi, the dominant member of the United Arab Emirates and home to the country's federal government institutions, is the company's largest shareholder in Arabtec through state fund Aabar, which holds a 36.1 percent stake. Abu Dhabi officials have been Arabtec's chairmen since mid-2012, with the current board all part of the emirate's government and business elite. In the original announcement, Arabtec's then chief executive Hasan Ismaik said the project owed much to Abu Dhabi's crown prince "who has been very keen to mobilise all efforts to boost support to our brothers in Egypt through a multitude of humanitarian, economic and social initiatives". SISI UNDER PRESSURE The UAE is still deeply committed to Sisi but when it comes to commercial ventures it is paying closer attention to contract details for a good return on investment, Western diplomats say. Sisi's success in cracking down on the Muslim Brotherhood - seen by Gulf allies as an existential threat - may mean the UAE has less reason to engage in ventures to back him. UAE finances have also been hurt by a fall in oil prices. When, as army chief, Sisi toppled Morsi, he promised what he called a political roadmap to democracy. Parliamentary elections on October 18-19 mark the last step in that process. His performance on the economy will come under greater scrutiny as political turmoil eases. "At the moment, many ordinary Egyptians, due to the fear of political violence in the country, will be giving Sisi a lot of leeway - but eventually, the public will want to see results in economic terms," said H.A. Hellyer, nonresident fellow at the Brookings Centre for Middle East Policy. "If the results are not sufficiently big or don't come quickly enough, be it on the Arabtec deal, the new administrative capital, or the Suez Canal expansion, Sisi's popularity could suffer quite substantially as a result." At an investment conference in March, Sisi said UAE businessmen Mohamed Alabbar, through Abu Dhabi investment firm Capital City Partners, would lead the construction of a new administrative capital. This would include an airport larger than London's Heathrow and a building taller than Paris's Eiffel Tower. Nearly four months after the initial memorandum of understanding was signed with Alabbar, Egypt's investment minister said that his company would only take "part of the project" along with other investors, including China Construction, which signed a memorandum of understanding of its own to study "building and financing" part of the project. Capital City Partners declined to comment. In another example of the difficulties faced by these projects, a year after announcing it would build Egypt's first coal-fired power station, Abu Dhabi-based Al Nowais Investments said last month the paperwork still had to be finalized. "I don't think the UAE is pulling out, but UAE companies who tried to jump on the bandwagon are finding it difficult to fulfill commitments that were not planned well," said Mohammed Ali Yasin, managing director at NBAD Securities, the stockbrokerage arm of National Bank of Abu Dhabi. More»
Marwa Hemdan - 2015-10-08 09:26:17
Egypt-based Arab Contractors has started carrying out water and sanitation network project in the first phase of the country's new administrative capital, chairman Mohsen Salah said Thursday. The project is set to be finished within three months. He added that the ministry of housing has officially assigned the company to execute and complete the project within the agreed timeline of three months.The new capital which will be located 45 kilometres of the southern part of Cairo and it is among many projects that have been under new regime of president Abdel Fattah al-Sisi designed specifically to attract foreign investors in times that Egypt wants to create jobs to fit its fast-growing population which stands at 90 million. More»