Real Estate News
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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.
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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.