Real Estate News
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Final ruling for the OCI postponed to 4 November
Following a number of meetings with the Egyptian government, the tax dispute liability case was referred back to the committee.
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The real estate market in Egypt is experiencing intense competition
The real estate industry has gone through different stages since the 1980’s while gaining an increasing importance for the Egyptian economy.
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Egypt turns to illegal buildings to tackle housing crisis
The cabinet approved the project designed to help Egyptians who built or bought bare apartments in the unplanned buildings.
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SODIC to invest up to $2.5bn in Egypt real estate
Earlier this year SODIC agreed to pay EGP 900m to the Egyptian government over seven years after reevaluating the East town project in Cairo.
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CAPMAS: Egypt's housing market slowing sharply in 2012/2013
CAPMAS attributed the slow to economic conditions and political upheaval experienced by Egypt during this period.
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Government considers offering international tender for Maspero development
Decisions to demolish buildings in the Maspero area were issued to residents recently as the buildings formed a threat to their lives.
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SODIC named Best Office/Business Developer in Egypt by Euromoney
Regarded as the benchmark awards for the global real estate industry, the Euromoney Real Estate Survey is now in its 10th year.
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Egypt's Palm Hills Q2 net profit down 8.3 pct
Real estate developer posts net profit of LE84.7 million for 3 months ended on 30 June, compared to LE92.4 million in previous year.
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Orascom Development Holding registers first profit since 2010
The Swiss hotel operator is expecting an improvement in the hotel performance during the second half of 2014.
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Billionaire Sawiris Plans Egypt Return With Construction IPO
Amsterdam-based OCI NV (OCI) approved separating its fertilizers and construction businesses.
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Egypt's property owners given 60 days to appeal valuation, taxes
Amendments to the property tax law were issued last week by Egypt's president, as the finance minister refines stipulations.
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Egypt imposes property tax on oil and gas fields
Property tax is set at 10 per cent of a unit's rental value and three per cent of a unit's capital value.
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Egypt’s Talaat Moustafa posts 12% increase in net profit in first half 2014
Revenues were up to 2.663 billion pounds compared to 2.418 in the first half of 2014.
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Egypt's SODIC hits 5-year high, doubles profits in H1/2014
Stellar first half of 2014 for Egyptian real estate developer, as share prices reach LE44 and net profits are doubled from same period last year.
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Egypt's Medinet Nasr sees 3% rise in profits in 1H/14
Medinet Nasr Housing and Development's Tag Sultan project was the main driver of the firm's increase in profits.
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Egypt's Amer Group H2 net profit up 28%
The firm, which owns hotels, restaurants and malls, among other businesses, made a net profit of 44.4 million Egyptian pounds.
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Bets on property lift Egypt's bourse; banks support Qatar
Egypt's bourse climbed 1.4 percent to a three-week high of 8,429 points as shares in property developer Talaat Moustafa Group jumped.
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Palm Hills Developments names new co-CEO
The move follows US private equity firm Ripplewood’s acquisition of a 2.3% stake in PHD last month.
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Egypt's Industrial Real Estate
Missed the 9th Money and Finance Conference? Download all you need to know about Egypt’s industrial real estate challenges and opportunities.
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Next Step: Addressing real estate in Egypt
With the rise in residential demand, Mall of Arabia is hosting the first annual real estate exhibition for companies in 6th of October.