Real Estate News
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Dubai’s Emaar Says Not Part Of Egypt’s Capital City Project
The company said in a Dubai bourse statement on Monday that it was not involved in developing the planned new capital to the east of Cairo.
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Egypt, Arabtec to resume talks on housing project
Dubai-listed Arabtec announced last March it will build the homes at 13 locations around the country.
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Urgent phase implementation in Toshka City to end 30 June: Housing minister
New Toshka project will be added to urban community plan for fiscal year (FY) 2014/2015 with investments at EGP 287m.
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NBE to grant credit for 640 housing units
CBE launched mortgage initiative last April worth EGP 10bn for real estate financing involving funding housing for low-middle income classes at concessional terms.
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Eagle Hills Said Building $80 Billion New City in Egypt
The project will be formally announced by Egypt’s government at an international investors conference next month, they said.
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Egypt's Palm Hills to inject LE2.2 bn into projects in 2015
Egypt's second-largest listed real estate developer saw its third quarter net profit grow 152 percent to LE129.7 million on a rise in deliveries
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Egypt's Palm Hills plans $230 mln share issue to raise capital
PH had called a shareholders meeting to approve the plan, which aims to increase its capital from 2.7 billion to 4.35 billion pounds.
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Orascom Development Holding offers 10-15% in stock market
The company stated that its management is “optimistic with the company’s performance”, adding that it expects a stronger performance after parliamentary elections.
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Palm Hills bets on commercial property as Egypt's economy recovers
A nascent economic recovery is fuelled by foreign investors - which the government is courting with structural reforms and mega-projects.
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Kuwaiti Al-Manshar to develop LE2 billion project in Egypt
The board of directors saw a need to take advantage of the Egyptian government’s keenness to attract investments.
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Official says 700 bridges in Egypt at risk of collapsing
75 percent of roads in Egypt are “deficient” and are in urgent need of rehabilitation.
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EALB in talks with 5 Gulf firms to market its property assets
The bank has recently contracted with Marsa Abu Dhabi Properties LLC to marketing assets for Egyptian abroad in the current year.
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Al-Futtaim to invest $700 mln in Egypt after dispute settled
Investments would be directed towards new projects in a second phase of the company's Cairo Festival City development.
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Egypt's Amer Group to become two companies
Real estate developer will become two companies in order to show actual value of its Porto projects and as part of wider plans to expand other developments.
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Egypt says it resolves land dispute with Dubai’s Al-Futtaim
A government source had previously said the negotiators were considering a payment of around 235 million Egyptian pounds ($33 million).
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Egypt's SODIC reports 37 pct rise in profit
SODIC, Egypt's third-largest listed property developer, reported a 37.4 percent rise in nine-month net profit on Tuesday.
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Orascom Construction to obtain IPO in February: Nassef Sawiris
Company won international arbitration case against petroleum ministry but decided not to act upon it, the businessman says.
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UAE's Aabar buys 5.1% stake in Palm Hills
Aabar, a subsidiary of the United Arab Emirates' sovereign wealth fund and run by the Abu Dhabi government, will have a representative on the board.
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OCI wins appeal to Egypt's tax authority, Sawiris plans large investments
In July, Sawiris was sentenced in absentia to three years in prison and fines worth LE50 million on charges related to the case.
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JPMorgan, EFG-Hermes said to be working on Emaar’s Egypt IPO
Engagement letters are due to be signed with the banks this week to run the initial public offering of Emaar Misr.