Construction News
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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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Japan funds new terminal in Egypt's Borg Al Arab Airport
Japan has signed Wednesday a soft loan deal worth EGP 1.2 billion (US$167.7 million) to build a new passenger terminal in Borg Al-Arab Airport.
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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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Dubai plan for $40 billion Egypt housing scheme nearly completed
Arabtec originally announced in March that it had agreed with the Egyptian army to build the homes at 13 locations around the country.
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Egypt's Ezz Steel posts first-half net loss of LE176 mln
Egypt's largest steelmaker blames disrupted availability of utilities for reduced output and margins in the first 6 months of 2014.
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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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Cairo-Cape Town Highway: From vision to reality in 2015
Egypt’s Minister of Transportation has announced that the Cairo-Cape Town Highway will commence trial operations at the start of 2015.
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Arab Contractors and OCI to carry out EGP750m Cairo Metro works
The bridge will cost EGP 500 million, and tunnel will cost EGP 250 million, Youm7 newspaper quoted the AC Chairman Mohsen Salah.
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Egypt court suspends verdict cancelling Porto Venice land deal
New law safeguarding state contracts from third party challenges could let Porto Venice keep large tract of coastal land.
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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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Saudi CPC acquires Egypt's Sphinx Glass for $180 mn
Acquisition of Sphinx Glass is part of CPC's expansion in the MENA region and Qalaa's sell-off of non-core projects.
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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 Ezz Steel sees 110% y-o-y net profit drop in Q1
Company attributes losses of LE221 million to disruption in available utilities in Egypt, which caused a drop in production at its steel plants.
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Arab Contractors to significantly expand Egyptian and Saudi operations
Company Chairman Engineer Mohsen Salah talks about the the company’s upcoming expansion projects in Egypt and Saudi Arabia.
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Indian company wins $14 million contract in Egypt
An Indian company today won a major $14 million contract for a World Bank-funded project in Egypt's power sector.
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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.