Construction News
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Egypt authorizes land facilities in new cities to incentivize investors
The New Urban Communities Authority (NUCA) has authorized a range of benefits and incentives for investment projects in new cities.
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Egypt’s Tatweer Misr announces real estate JV with Saudi’s Naif Alrajhi Investment
The JV will develop integrated urban projects and tourist resorts in Saudi Arabia.
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Arab Developers turns profitable in Q1-23; revenues skyrocket 137%
The sales hiked by 413% year-on-year (YoY) to EGP 1.30 billion in Q1-23 from EGP 316 million, according to the financial results.
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Real estate market in Egypt turns to US dollar – the looming threat of dollarization
Sales have recently been carried out in Egypt in dollar, amid the rise in the price of the dollar against the Egyptian pound.
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Maboudly, Real Estate Development Chamber discuss measures to boost sector
The meeting centered on discussing mechanisms and suggestions to strengthen the local real estate market.
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Egyptian property sales increase 7% in April: Aqarmap
Aqarmap, Egypt’s Real Estate Demand Index, recorded a growth of 7% in property sales in April, after a period of decline in March.
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PM witnesses inauguration of “Builders of Egypt Forum 2023”
The event is organized by the African Federation for Construction Contractors’ Association (AFCCA) in collaboration with Exlnt Communications and SCA.
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Two Chinese companies offer to build $300 mln iron complex in SCZone
Two Chinese companies presented an offer to the Egyptian government to launch a $300 million steel complex at the Suez Canal Economic Zone (SCZone).
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Egypt: MNHD logs higher net profits in Q1-23
In the first three months (3M) of 2023, the basic earnings per share (EPS) climbed by 105.08% to EGP 0.12 from EGP 0.05 in Q1-22.
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Big 5 Construct Egypt returns bigger than ever to shore up sustainable growth in $68.5 billion market
The upcoming edition of Big 5 Construct Egypt is endorsed by the Ministry of Housing, Utilities, and Urban Communities.
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Infinity Tower in Egypt's New Administrative Capital reaches 55% construction completion
The tower has now reached a height of 100 metres (m) out of its full 210m, the developer said in a press statement.
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Egypt's Raaed Developments commences construction of ROOTS project in New Sohag
Sabbour Consulting is the project architect while Behairy Consultant Engineering is providing engineering and construction supervision services.
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Orascom Construction Divests Construction Chemicals Subsidiary for EGP 1.8 Billion
Orascom Construction’s share of the gross proceeds for its 28.25% effective stake amounts to EGP 1.8 billion.
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Egypt will allow foreigners to own property with no limits, but with rules
Egypt will allow foreigners to own property with no limits, but according to certain rules, announced Prime Minister Mostafa Madbouly on Wednesday.
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Wadi Degla Developments launches Waterside in Murano’s third phase
Murano beach stretches across 750 metres on the Red Sea shore, With investments of around EGP 8bn.
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Egypt’s office, retail space demand sees growth in 2023 despite challenges
Egypt Real Estate Report, issued by Savills Egypt, highlighted the challenges the industry has faced over the past year.
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Arkan Palm and IHG Hotels & Resorts expand partnership
The hotels, located in Arkan Palm’s 205 mixed-use project, will add 390 rooms to IHG’s portfolio in Egypt.
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Developers list their demands to revitalise, develop Egyptian real estate sector
They called for including the real estate sector in initiative to support industry, agriculture with 11% interest rate loans.
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SODIC acquires 180 acres of land on Egypt's North Coast
Located in Ras Al Hekma, Caesar is SODIC's maiden venture into coastal developments and second homes.
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Orascom Development Holding AG announces its Egyptian Subsidiary (ODE) Q1 2023 Financial Results
Orascom Development Holding (ODH) Q1 2023 results will be announced as scheduled on Tuesday the 17th of May at 7:00 am CET.