Construction News
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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.
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Egypt's Medinet Nasr sees 3% rise in profits in 1H/14
Medinet Nasr Housing and Development's Tag Sultan project was the main driver of the firm's increase in profits.
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Egypt's steel rebars see price hikes in August
Retail prices of locally produced steel rebars have jumped to LE5,280 per tonne in August from LE5,065 in July.
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Egypt's Amer Group H2 net profit up 28%
The firm, which owns hotels, restaurants and malls, among other businesses, made a net profit of 44.4 million Egyptian pounds.
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Industry, food and metal production rose during 2012: CAPMAS
Risen value of several commodities influenced production value, government statistics agency indicates.
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Egypt to float shares in Suez Canal project
Five-hundred million shares in the project will be available to investors at a rate of $14 a share for Egyptians and $100 per share for foreigners.
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Egypt government mulls securing EGP18bn for Metro Line 3's Phase IV
Egypt's government is studying to contribute EGP 18 billion to implement the fourth phase of Cairo Metro Third Line project.
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Egypt's steel industry files anti-dumping claim against imports
Steelmakers have submitted a request for the government to re-introduce anti-dumping duties on imports of rebar and wire rod.