amwalalghad :: Real Estate

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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

Amwal Al Ghad English - 2015-03-23 07:35:46
The Ministry of Housing, represented by the New Urban Communities Authority (NUCA), has requested that construction companies take over the building of 60,000 proposed housing units. The construction of the houses forms part of the social housing project, the “one million residential units “, according to the ministry’s statement Sunday. The units will be implemented in eight new cities, and the actual implementation will start in the next fiscal year 2015/2016. NUCA Vice-President Kamal Fahmi said 10,000 units will be built in 6th of October City, for the benefit of Giza citizens. Fahmi added that another 13,000 units of the project have been completed by the armed forces through a UAE grant in 6th of October City. These will be proposed for reservation during the next month. Fahmi noted that 50,000 housing units will be proposed in the 10th of Ramadan City in Sharqeya governorate, 15th of May City in Cairo governorate, New Damietta in Damietta governorate and Upper Egyptian cities. More»
Amwal Al Ghad English - 2015-03-22 07:40:26
Dubai's largest construction firm, Arabtec, swung to a net loss of 94.4 million dirhams ($25.7 million) in the fourth quarter of last year, missing analysts' estimates as high costs weighed on its bottom line. The builder, in which Abu Dhabi state fund Aabar Investments owns a 36.11 percent stake, on Sunday reported a net profit attributable to shareholders of 214.6 million dirhams for full-year 2014 versus 377.8 million dirhams in 2013. It did not provide quarterly figures in the statement, but Reuters calculations based on its previous financial statements showed the company swung to a fourth-quarter loss from a 122.1 million dirham profit in the prior-year period. Two analysts polled by Reuters had forecast Arabtec would make a quarterly profit of 107.3 million and 122 million dirhams. Last year's profits were hit by non-recurring general and administrative expenses, which jumped 75 percent to 749.9 million dirhams, the company said. More»
Marwa Hemdan - 2015-03-21 12:34:59
Rooya Group, one of Egypt’s fast-growing real estate developers, is planning to float its shares on the country’s bourse within the fourth quarter of the current year, most probably next October. Hisham Shoukri – President and CEO of Rooya Group – said, in an interview with Dina Abdel Fattah at ‘Kol Al Zawaya’ programme on Thursday, getting listed in the Egyptian Exchange (EGX) would facilitate funding for the Group’s projects. Rooya Group is one of Egypt’s fast-growing holding companies in the field of real estate development, tourism investment, contracting, and consultancy with investment of more than 4 Billion Dollars and Capital of EGP 1.2 billion (US$ 157.3 million). Rooya was founded in 2007 by Tiba for Real Estate Investment, after 15 years of experience & continuous success in the real estate field. More»
Maha Essam - 2015-03-21 10:22:55
World Bank Group has approved a five-year loan worth $500 million to finance Egypt's comprehensive social housing programme, Minister of Housing Mostafa Madbouly said.   The minister asserted that the New Urban Communities Authority (NUCA) will start issuing the execution of number of unites in One Million Housing Unites project with spaces less than 90m² especially in new cities in Upper Egypt. Both ministries of Housing and International Cooperation- representing Egypt- have signed the financing agreement with the World Bank, stated Khaled Abbas, assistant minister for technical affairs. Abbas said that the loan would be dedicated to support the Social Housing Financing Fund which was launched almost six weeks ago. On the other side, the minister clarified that NUCA is preparing to issue the execution of small housing units (two rooms and reception) in number of new cities in Upper Egypt to be suitable for citizens' incomes there bedsides the execution of 90 m²-unites (three rooms and reception). More»
Amwal Al Ghad English - 2015-03-18 13:19:11
Egypt's housing ministry and Dubai's Arabtec have agreed some of the terms for a $40 billion project to build one million homes across the country, and they will sign a final contract within 10 days, a ministry spokeswoman announced on Tuesday. Earlier this month, the housing minister said he hoped to conclude a deal for the mega development - seen as part of economic and political support to the country by the United Arab Emirates - before a March 13-15 investment conference. No announcement was made, however. The two parties differed over the percentage of completed units that Arabtec should deliver to Egypt in lieu of payment for land used in the project, a source told Reuters on March 3. "There is no percentage that has been agreed on with Arabtec," Wafaa Bakri, media advisor for the housing minister, told Reuters on Tuesday. Asked if the government would take the same percentage agreed with Talaat Mostafa for the Egyptian developer's Madinaty housing project, which was 7 percent, she said: "It will be more than that." Arabtec executives will visit Cairo within 10 days to sign the final contract, she added without elaborating. Such a short time frame may indicate the two sides are confident a deal is near, and a source familiar with the matter played down their differences. He said the main obstacles had been overcome and only a few relatively minor issues remained. Under a preliminary plan announced last year, construction of the housing had originally been due to start in the third quarter of 2014, with the first homes to be delivered in early 2017 and the project to be completed before 2020. More»
Amwal Al Ghad English - 2015-03-17 11:03:52
Egypt’s Palm Hills Developments and UAE’s Aabar Investments announced Tuesday the formation of the largest Private Joint Venture in Egyptian Emirati History to co-develop 10,000 feddans in West Cairo. Palm Hills, the leading real estate developer in Egypt, and Aabar Investments PJSC, signed a Memorandum of Understanding (MoU) with the Egyptian Ministry of Housing for the exclusive co-development of an integrated city in 6th of October over10,000 feddans. The MoU gives the Joint venture the exclusivity to finalize the definitive co-development agreement with the Egyptian Government. This deal reflects unprecedentedly the largest private to private venture in the history of both nations. It also reinstates the Egyptian real estate sector's health and ability to attract investments. Aabar - owned by the International Petroleum Investment Company ("IPIC"), is an investment company wholly owned by the Government of Abu Dhabi and chaired by his Highness Sheikh Mansour bin Zayed Al Nahyan, the deputy Prime Minister of the UAE and the UAE Minister of Presidential Affairs. Aabar is managed by His Excellency Khadem Abdulla Al Qubaisi who serves as the managing director and a board member of IPIC. Yasseen Mansour, Chairman of Palm Hills Developments , stated, “Palm Hills is continuously striving to take its building on brand promise to much bigger horizons. This deal undoubtedly marks a significant milestone in the Egyptian Emirati partnership history. The project involves the development of large-scale integrated communities. The size of the investments required would significantly support the creation of job opportunities for young Egyptians and give a boost to the local economy". Khadem Abdulla Al Qubaisi, Chairman of Aabar , stated, "Our belief in the compelling demographics and attractiveness of the Egyptian market is unlimited. Clearly, Egypt is starting to reap the fruits of the great effort and well honed initiatives arranged by its wise leadership and efficient administration. We are very much looking forward to seeing this mega investment come to life.'' More»
Amwal Al Ghad English - 2015-03-17 08:07:08
Tarek Abdel Rahman, CEO of Palm Hills Development (PHDC) revealed that the company owns a land bank amounts to 23 million square meters. According to Alborsa newspaper, the company is currently developing 10 million meters in its ongoing projects, while it is willing to sell 5 million square meters in Saudi Arabian city Riyadh in the coming period. He added that, Palm Hills is committed to allocating 350.000 meters for commercial and services constructions, in addition to opening of Street AT Mall in 6th of October city within 5 months. He pointed out that, the company will pump LE 2 billion this year, applicable to increase. More»
Amwal Al Ghad English - 2015-03-16 09:03:24
Egyptian real estate company Amer Group Holding Co said Monday its net profit for 2014 increased 670% over the previous year, describing the result as a "return to a pre-revolution growth trajectory". The firm, which owns hotels, restaurants and malls, among other businesses, made a net profit of 246.5 million Egyptian pounds ($32.3 million) in 2014 compared with 32 million pounds the previous year, it said in a statement. Amer Group said there had been a turnaround in its hotel and restaurant divisions and double-digit increases in all five lines of its business, Reuters reported. Egypt's economy suffered in the four tumultuous years since the 2011 uprising that ousted Hosni Mubarak. "Going forward, our next push will see us further expand our geographical presence as well as diversifying our activities into the educational and health-care real estate segments building on our strength as one of the region's top developers," group Chairman Mansour Amer said. More»
Amwal Al Ghad English - 2015-03-16 08:35:25
Egypt's Housing Minister Mostafa Madbouli said on Saturday that Emirati construction firm Arabtec Holding has accepted the Egyptian government's conditions on a major real estate project, state agency MENA reported. The project, worth $40 billion (305 billion Egyptian pounds), will see the construction of a million housing units in 13 sites across Egypt. In the first phase of the project, 100,000 housing units will be built. Arabtec signed a memorandum of understanding with the Egyptian Defence Ministry in March 2014 but the deal was slowed down during negotiations on the final details. The minister was cited by MENA as saying that the Dubai-based company sent a letter in which it accepted Egypt's conditions. He added that the final signing of deal is due to happen within the next few days. More»
Amwal Al Ghad English - 2015-03-15 13:29:28
Egypt has signed preliminary deals with four Arab real estate developers for four projects worth a total of $12.7 billion, the country's housing minister said on the sidelines of an economic summit on Sunday. The Arab world's most populous country faces a persistent housing shortage, with population growth outstripping new construction of affordable housing units. Moustafa Madbouly said that the housing ministry had signed MOUs with Egypt's Mountain View and Saudi Arabia's Sisban Holdings for two real estate projects, with Egypt's second-largest listed developer Palm Hills (PHDC.CA) for a third project, and with a consortium of Arab firms for a fourth. It was not immediately clear how much of the projects would be for residential or commercial properties. Mountain View and Sisban will develop 500 acres (202 hectares) in New Cairo at a cost of $3 billion, and 470 acres in 6th of October City at a cost of $2.7 billion, he said. Final agreements on these projects are expected to be signed within three months, Madbouly said. He added that Palm Hills signed an MOU to develop 500 acres in New Cairo at a cost of $3 billion. A consortium of Arab firms will develop a tourist town on 557 acres in 6th of October City on the outskirts of Cairo for $4 billion, the housing minister said. "6th of October will become the new tourist capital of Greater Cairo," Madbouly said. More»