20 Aug 2015

Arabtec denies retreat from Egypt project

Dubai-listed builder Arabtec issued a statement on Thursday denying a media report that it was withdrawing from a planned project to build one million homes in Egypt.

"The company...reaffirms that it's still discussing some related details with concerned Egyptian parties," it said in a bourse statement, without giving details or specifying where the...

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12 Aug 2015

Egypt to build housing units in Old Cairo slum

Egypt plans to build housing units for residents of Batn Al Bakara slum located in Old Cairo, Prime Minister Ibrahim Mehleb was quoted as saying in a report.

A part of the area is located on the edge of high-level land, which makes it a dangerous area in which to reside, added the Daily News Egypt report.

“We have 1,300 slums across...

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10 Aug 2015

Marseilia Egyptian Gulf Real Estate Investment shifts from loss to profit in H1 of 2015

Marseilia Egyptian Gulf Real Estate Investment SAE has shifted from loss to profit in the first half (H1) of 2015, the company announced Sunday.

In H1 of 2015, the company’s net profits reached EGP 10.3m ($ 1.3m), compared to the EGP 11.8m ($ 1.5m) of net losses recorded in the same period the previous year.


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