Real Estate News
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Egypt sells prime land to foreign investors in USD to boost economy
Egypt has approved the sale of land plots in eight major cities to 34 foreign companies, with all transactions priced in US dollars.
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Rents rise by 24%, East Cairo at forefront of demand
A significant revelation at the event was the 24% year-on-year surge in rental costs throughout Greater Cairo.
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Egypt’s real estate portfolio valued at $200 billion, ready for international export
In 2022, Egypt launched an initiative to export real estate with an aim to bolster the local property market and increase foreign currency reserves.
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ADQ to commence construction work in Ras El Hekma Project before end of 2024
El-Gazzar highlighted that the project’s developer has established the plans, secured ministerial decisions, and acquired the necessary licenses.
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Egypt receives $14 billion in 2nd batch of Ras El-Hekma deal: Cabinet
The Egyptian government said it has received $14 billion as the second batch of funding from the $35 billion Ras El-Hekma development deal.
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Cairo real estate market surges by 83% in 6th of October, by 95% in New Cairo
These initiatives align with the country's objective of welcoming 30 million visitors by 2028 and expanding its hotel capacity by almost 250,000 rooms
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PM holds meeting to boost real estate exports, activate investment funds
Madbouly acknowledged the promising opportunities Egypt holds for attracting foreign investment in its real estate sector, especially touristic.
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Egypt’s Royal Developments unveils final phase of Monarch project in Mostakbal City
Spanning over 30,000 square metres, the fourth phase will offer a variety of unit sizes including duplexes, company CEO Karim Shaalan told Zawya.
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Ajlan & Bros Group plans to invest $1.5B in Ras Jamila in Egypt
The group also submitted an offer to acquire companies within Egypt’s IPO program, expecting negotiations to be completed within 6 months.
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Egypt won't consider any offers for Ras Gamila development until selection of advisory firm
Situated in Sharm El-Sheikh on the Red Sea, Ras Gamila holds significant potential for development.
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Egypt sets EGP 100M as minimum capital for real estate financing companies
This increase can be fulfilled through cash or its equivalent in foreign currencies at the exchange rate announced by the Central Bank of Egypt (CBE).
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Egypt: Three companies propose to participate in New Heliopolis City project
Heliopolis Company for Housing and Development announced that the financial evaluation is expected to be concluded by the end of April 2024.
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Banks, companies contribute EGP 68.85bn to mortgage finance initiative for low-income individuals in Q1 2024
Amlak Mortgage Finance disbursed EGP 252.133m to 2,320 clients, while Tamweel Mortgage Finance allocated EGP 68.666m to 602 clients.
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Egyptian government plans to build 1K smart houses in New Alamain
Twenty-five percent of the city's surface area will be an industrial zone located in the southern section in the desert.
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Egypt’s Forbes International Tower wins ‘best commercial skyscraper in Africa’ award
IDSC said that the Forbes International Tower faced intense competition against five major international projects spanning four continents.
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Hisham Talaat Mostafa named most influential real estate developer in Middle East by Forbes
Forbes attributes this distinction to Talaat Mostafa’s remarkable success over four decades in leading the Talaat Mostafa Holding Group.
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Rising revenue in US offsets decline in Egypt for Orascom
Orascom is building the longest monorail system in the world. The first line runs 54km from East Cairo to the New Administrative Capital.
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Egypt to start construction of 2nd phase of administrative capital in 2025
ACUD has secured five new partnerships during the first quarter (Q1) of this year, worth between EGP 180 and EGP 200 billion.
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Top 20 real estate companies in Egypt
As Egypt continues to chart its course towards economic prosperity and urban development, the real estate sector emerges as a key driver of progress.
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Egypt's Ministry of Housing signs deals with UAE companies, boosting real estate, healthcare sectors
Ministry of Housing has signed an agreement to allocate land for the establishment of an integrated medical-educational urban project in El Shorouk.