Cityscape Egypt postponed due to coronavirus fears; Real Estate Chamber urges companies to make March annual discounts

Informa Markets, organiser of Cityscape Egypt exhibition, has decided to postpone the exhibition formerly scheduled 18 – 21 March, and the Cityscape Egypt Conference and Awards scheduled to run 16 – 17 March, following the Egyptian government’s announcement to suspend"...

AMAALA Unveils Denniston as Master Planner of the Island

AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coastline, has announced the appointment of leading architectural firm Denniston as the Master Planners for The Island.

Chief"...

Tharaa cherry-picks EGP 80B state-run assets: CEO

Egypt’s sovereign wealth fund, Tharaa intends to take control of some of the government’s most-promising assets worth around 80 billion Egyptian pounds ($5.1 billion), its chief executive said.

Speaking"...

USD rises against EGP at local banks on Monday

The Egyptian pound exchange rate went down against the US dollar at local banks on Monday amid rising concerns over the spread of the new coronavirus (COIVD-19).

The USD grew by EGP 0.05 to EGP 15.64 for buying"...

Real estate developers differ on Covid-19’s possible effects on local sector

Property developers differed among themselves about the possible impact of the Coronavirus virus (Covid-19) on Egypt’s real estate sector, although they agreed it would influence other sectors and the global economy in general.

The"...

Orascom Construction appoints new group chief financial officer

ArabFinance: Orascom Construction PLC (ORAS) announces that Reham ElBeltagy will be appointed Group Chief Financial Officer (CFO), effective 1 April.

ElBeltagy will succeed Mark Littel, who is stepping down after"...

Rasmala Acquires Research and Development Facility in the United States for USD 61 million

Rasmala Investment Bank Limited (‘Rasmala’) a leading alternative investment manager, today announced the acquisition of a state-of-the-art research and development facility in Philadelphia, United States for USD 61 million. The asset was acquired by the Rasmala North American"...

Madinet Nasr Housing sells residential land-plot for EGP 1.15B

Madinet Nasr Housing & Development (MNHD), Egypt’s leading urban developer, announced today that it has signed a contract selling a 114,537 sqm residential land plot in Taj City for EGP 10,000 / sqm totaling EGP 1,145,370,000 to MINKA Real Estate (“MINKA”) a Sallarn"...

Egyptian property market experiences “roller coaster ride” in 2019: JLL

The Egyptian market experienced a “roller coaster ride”in 2019 that saw a wide range of “booms and busts” that are being addressed by the government in line with Egypt Vision 2030, according to JLL.

Following"...

MNHD, Land Projects Agency agree to exchange ​lands to expand Taj City

Madinet Nasr Housing and Development (MNHD) has agreed with the Armed Forces Land Projects Agency (AFLPA) to exchange separate land plots.

MNHD said in a statement on Monday that the agreement stipulates exchange"...