Construction News
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Egypt: Talaat Moustafa Group announces $65.2mln contracted sales in Q1-23
Revenues enlarged by 29% to EGP 19.87 billion in 2022 from EGP 15.34 billion a year earlier.
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Egypt's Emaarcom Developments launches Mokattam Downtown
He said the project will be completed in four years, adding that Ehaf Consulting Engineers is the main consultant of the project.
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Exports of Egypt’s building materials sector up 7.1% YoY in 2022
Exports of the building materials industry amounted to nearly $6.9billion last year.
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Aldar Properties reaffirms its commitment to Egypt
On Wednesday, Reuters reported that a senior executive had said Aldar will hold off any further investments in Egypt until conditions stabilize.
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Acrow Misr’s consolidated profits exceed $3.65mln in 2022
Basic and diluted earnings per share (EPS) reached EGP 1.75 last year, lower than EGP 1.84 in 2021, according to the income statements.
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Egypt aluminum generates higher profits at $126mln in 9M-22/23
Egypt Aluminum recorded net profits after tax amounting to EGP 3.91 billion during the first nine months (9M) of fiscal year (FY) 2022/2023.
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Egyptian Businessman Samih Sawiris Expresses Hesitancy to Invest in Egypt
The business tycoon began by saying that the economic crisis is making it more difficult for businesses to operate.
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Egypt: SODIC’s contracted sales hit $90.2mln in Q1
The annual drop in sales was due to the limited launches in the three-month period ended March 31st.
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Orascom Development begins handover of first phase of homes in O West
Plans for 2023 are on track for the town to deliver more than 350 villas in the Whyt.
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Contact increases its mortgage finance to EGP 6m with 10-year payment plan
Contact provides mortgage finance services to individuals directly or through real estate developers.
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Egypt: Al Fanar’s OGM nods to bonus shares distribution
Al Fanar is an Egypt-based company, operating within general contracting, construction, trade, import, and export.
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Egypt allocates EGP 17bn to implement 360 development projects in Sinai
These directions come in agreement with the sustainable development strategy within the framework of – Egypt’s Vision 2030.
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Fitch Ratings: Egypt 2nd largest steel producer in MENA region
This came in a report published by the Cabinet’s Information and Decision Support Center (IDSC) earlier in April.
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Q Developments expands into Egyptian real estate market
Q Developments is an Egyptian joint stock company established in 2016 and owns 50% of shares of Jumeirah Egypt for Constructions.
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Fitch expects Egypt construction industry to expand by 6.8%
Associated improvements to the operating environment in the sector will likely draw in foreign and local investment.
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Madinet Masr agrees to capital hike
Accordingly, the capital will see an increase of EGP 35 million to EGP 2.135 billion from EGP 2.1 billion.
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Talaat Moustafa Group opens the door for leasing in “East Hub'
The offering came at an Iftar party organized by the Talaat Moustafa Group, on Thursday, April 13, at the “East Hub” project in Madinaty.
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Egypt’s construction industry to expand by 6.8% y-o-y: Fitch Solutions
The report stated that Saudi and UAE-based investors will be key strategic partners for the Egyptian government.
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Egypt's housing construction declined by 36.6% in FY2021/22
A total of 246,100 residential units were built in Egypt during FY2021/2022, a 36.65 percent decline over the previous year.
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Egypt to build $2.7bln aluminium smelter
The Egyptian Company for Metal Constructions (Metalco) is negotiating with a potential partner for the 600,000-tonne project.