Latest in Real Estate Highlight
Latest in Real Estate
Egypt needs to organise similar events, visits to encourage Arab, foreign investments, says developer
Company signed cooperation protocol to fund establishing an official school in New Capital
Law contravenes ruling of Supreme Constitutional Court, says housing committee member
Parliament’s economic committee approves new Egyptian criteria for real estate appraisal
“We intend to engage in further securitisation and discounting transactions in FY 2019,” says Mansour
Mortgage finance companies offered loans worth EGP 392.7m during April 2019
Project to be built over 109 feddan within five years
Egypt is making strong strides in the field of digital transformation, Internet of Things (IoT), and artificial intelligence (AI) through the creation of smart cities and communities, which will put it in the ranks of technologically advanced countries in the coming period, he noted
The Egyptian Real Estate Council proposed to set an interest rate of 8-12% on mortgage finance for middle-income housing units
The minister explained that the partnership reflects the mutual trust between the government and the private sector
The project is located in the R7 diplomatic area overlooking the main road, and will offer 1,376 housing units varied between luxury apartments, duplexes, and penthouses with areas ranging from 122 sqm to 366 sqm. Fahmy noted that the company plans to begin project delivery in 2023.
Company’s land bank worth more than 7.5m sqm
During the company’s press conference on Wednesday, Amr El Kady, CEO of City Edge said that the first contract was signed with ASGC Group for EGP1.4bn for the Etapa Square project except for the hotel part of the project, which is being implemented until 2022.
The OIA project is spread over 30 feddan in the NAC, composed of only 20% of building areas, which include 1,300 units.
Company paying land instalments worth EGP 900m to ACUD during 2019, says Co-CEO
Company intends to expand in NAC with more residential, commercial projects, says general manager
Company has achieved EGP 4bn in sales during 2018, says CEO
Project’s investments worth EGP 59bn, says Badr El-Din
Amer revealed that the company plans to inject EGP 300m in investments in the third phase of ClubView that will comprise of units with sizes ranging between 132-452 sqm.
Launching residential, administrative project in Degla Maadi area soon
Company plans to deliver project in May 2022, says sales manager
Company plans to offer second phase of Malaaz North Coast project in July, says managing director
Company disburses EGP 1.8bn out of EGP 3.2bn worth credit facilities
Company will deliver 8 residential buildings during current year
City will receive about 18,000 athletes annually
The proposals would help to coordinate between the four entities in order to find innovative solutions to some of the problems affecting the growth of real estate investment in Egypt.
El-Dessouky further noted that the company achieved sales exceeding EGP 2bn for developers in 2018.
Lasheen noted that the two projects’ investments amounted to EGP 12bn.
Fakhry added that the company offers its customers discounts for a limited period up to 20% when contracting on the second phase of the project, noting that the second phase is scheduled to be delivered in 2021.
According to the press statement, the strong growth in revenues was driven mainly by Villette which contributed to circa 50% of the delivered value.