REAL ESTATE

22 Jan 2017

Housing Ministry to provide lands with basic facilities for real estate sector: Mostafa Madboly

Housing Minister Mostafa Madboly said that his ministry is committed to support the real estate sector through providing large and medium-sized areas of land with basic facilities.

He added that the ministry seeks to attract foreign investment, especially from Arab countries, to participate"...

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18 Jan 2017

Egypt's pound devaluation pummels real estate sector

The flotation of the Egyptian pound has caused challenges for real estate stakeholders throughout 2016, according to the 2016 Cairo Real Estate overview report recently released by real estate firm Jones Lang LaSalle (JLL). The"...

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18 Jan 2017

Real estate stakeholders affected by Egyptian pound flotation: JLL

The flotation of the Egyptian pound has caused challenges for real estate stakeholders throughout 2016, according to the 2016 Cairo Real Estate overview report recently released by real estate firm Jones Lang LaSalle (JLL). The report analysed the impacts of the decision made by the Central Bank of Egypt (CBE) in November 2016 to liberalise the exchange rate. Continue Reading

16 Jan 2017

Cost of residential square metre to rise by 60-80% in coming months: Fathallah Fawzy

Fathallah Fawzy, chairperson of Fathallah Fawzy Office for real estate development consulting, confirmed that the cost of implementing and building a residential square metre will rise by 60-80% over the coming two months, as a result of the increased prices of construction materials and production inputs after the Egyptian pound’s flotation. The cost...

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16 Jan 2017

Egypt, Russia Agree One of Key Contracts on Dabaa NPP Construction

Cairo and Moscow have completed harmonization of one of the four key commercial contracts on the construction of the Dabaa Nuclear Power Plant (NPP) in Egypt's north, Egyptian Minister of Electricity Mohamed Shaker El-Markabi said, as cited by the local media Sunday.

Shaker added that the key contract consists of 3,500 pages. "The ministry has completed...

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15 Jan 2017

Egypt completes over 200,000 housing units

The Egyptian government has till date completed 200,000 housing units and delivered more than 55,000 apartments under its social housing project, said a report.

The mega project aims to establish one million housing units at a cost of E£150 billion ($8 billion), reported Amwal Al Ghad, citing a senior official.

"The social housing...

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15 Jan 2017

The First Group’s the One at Jumeirah Village Circle Wins Prestigious Architectural Award

The One at Jumeirah Village Circle (JVC), one of the latest hotel developments from leading Dubai-based property firm The First Group, has been named Leisure and Hospitality Project of the Year at the prestigious Middle East Architect Awards."...

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14 Jan 2017

Why Egyptian firm is selling its stake in Kenya-Uganda railway

The decision by Egypt’s Qalaa Holdings to sell its controlling stake in the firm that runs the Kenya-Uganda railway line was informed by failure to generate returns for its investors, the company said on Friday.

Qalaa,"...

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10 Jan 2017

Prime Minister defines conditions for granting free industrial lands in Upper Egypt

Minister of Industry and Trade Tarek Kabil said that the prime minister had issued a decree determining the technical and financial conditions to be met by investors who may obtain industrially ready lands in Upper Egypt for free, noting that the decision will be effective upon publishing"...

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09 Jan 2017

[Egypt] Housing and Development Bank extends branch portfolio to 70

The Housing and Development Bank (HDB) increased the number of its branches to 70 by the end of 2016, after the inauguration of the latest branch in Port Said as the bank seeks to grow its foothold in the region and continent.

According"...

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