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Latest in Real Estate


MNHD records EGP 634.2m in consolidated revenues in Q1

Madinet Nasr Housing and Development (MNHD), an urban developer in Egypt, recorded consolidated revenues of EGP 634.2m in the first quarter (Q1) of 2019, up 3.8% year-over-year (y-o-y) from the EGP 610.8m recorded during Q1 of 2018. MNHD announced on Thursday its results for Q1 ending 31 March 2019, reporting that consolidated net profits for …

Shaimaa Al-Aees

Better Home decides to abolish expenses of unit’s ownership transfer

The board of directors of the Better Home Group company issued a decision to abolish expenses of transferring units’ ownership in the company’s projects, estimated at about 6% of the total value of the residential unit, as a facilitation for customers. The company pointed out that the board of directors decided to abolish these expenses …

Shaimaa Al-Aees

Mariout Hills launches first sustainable city in North Coast

The investment cost for the first phase of the first sustainable “eco-city” in Egypt is EGP 2.4bn, Ahmed Hassan, chairperson of Mariout Hills Developments, a specialist in sustainable cities, said. Hassan noted that the eco-city will be located in the North Coast, explaining that it will comprise of residential units which comply with all globally …

Shaimaa Al-Aees

Trulia for Real Estate to contract with 30 developers to market their projects

Trulia for Real Estate has started contracting with a group of leading real estate developers in Egypt to market their residential, commercial, and coastal projects, and is negotiating to include more projects in its marketing portfolio. Ahmed Abdel Naeem, chairperson of Trulia, said his company has started contracting with 30 real estate companies to market …

Shaimaa Al-Aees

Egypt’s real estate prices have hiked by 75% since pound flotation

Real estate prices in the Egyptian market have hiked by an average of 75% since the floatation of the Egyptian pound till now, according to Mahmoud Abdel Halim, chairperson of MREC for Integrated Real Estate Services. Abdel Halim noted in a press statement on Thursday that the price spikes in some projects and regions reached …

Shaimaa Al-Aees

Misr Italia begins VINCI project construction works with EGP 500m investments

Misr Italia Properties begins the construction work of VINCI boutique residential project with investments worth EGP500m in 2019. Misr Italia Properties announced finalising a deal with three contracting companies to implement the construction works of VINCI project. With construction of the project starting in 2019, the company plans to accelerate the delivery of units in 2022. Mohamed Hany …

Daily News Egypt

Cairo’s real estate market performance remains strong in Q1of 2019: JLL

According to the Jones Lang LaSalle (JLL) report, performance remained strong across all sectors of the Cairo real estate market in the first quarter (Q1) of 2019. JLL added that the residential sector registered mixed performance, with sale prices slowing over the quarter, while rental rates increased on the back of limited supply of rental …

Nihal Samir

HHD offers 44 plots of land at Airport Sheraton by public auction in May

The Heliopolis Company for Housing and Development (HHD), one of subsidiaries of the Holding Company for Construction and Development affiliated to the ministry of public enterprise sector, intends to sell 44 plots of land on the main streets of the Sheraton area, in east Cairo. The HHD’s Managing Director, Sahar Al Damati, said in press …

Shaimaa Al-Aees

Namaa launches Capital One project in NAC

Namaa Development and Real Estate Investment has announced the launch of its latest project in the New Administrative Capital (NAC) called Capital One, to become the largest private sector management complex in the central business district (CDB) in the NAC. During the celebration of the 20th anniversary of its presence in Egyptian market as a …

Shaimaa Al-Aees

Sabbour Consulting, Hometown contract to design Zaha Park New Capital

Sabbour Consulting and Hometown Real Estate Development contracted to design and supervise the implementation of Zaha Park New Capital, a commercial administrative project, in the New Administrative Capital (NAC). Founder of Sabbour Consulting, Hussein Sabbour said, “According to the contract, our office will provide all engineering consultations for the design works, and supervise the implementation …

Shaimaa Al-Aees

MNHD reports EGP 1.72bn in pre-sales for Q1 2019, launches office park

Madinet Nasr Housing and Development (MNHD), a leading Egyptian urban developer, announced on Sunday that its pre-sales (contracted sales plus reservations) for the the first quarter (Q1) of 2019 reached EGP 1.72bn, up 9% year-over-year. According to the company’s press statement, pre-sales were mainly driven by the demand of the residential units as well as …

Daily News Egypt

Housing Ministry to establish over 1.1m residential units in 5 years

Establishing new urban communities became one of the engines of economic growth in Egypt and building sustainably is a priority in the country’s 2030 Vision, Khaled Abbas, deputy minister of housing, said. The ministry of housing plans to establish more than 1.1m residential units during the coming five years and we will be waiting for …

Daily News Egypt

Marakez acquires land in Mansoura to establish EGP 1.4bn commercial mall

Marakez for Real Estate Investment has acquired from the Internal Trade Development Authority (ITDA) a 47-feddan land plot in Mansoura city, Daqahleya, to develop a commercial mall with EGP 1.4bn in investments. The mall that will serve as a retail and entertainment centre for the Delta area, including the 7 million population of Daqahleya. “Marakez’s …

Daily News Egypt

MG Developments begins implementation of HQ project in New Cairo

MG Developments has begun the construction of the Headquarters (HQ) business project placed in the first sector on 90th street in the Fifth Settlement, New Cairo, on 11,000 sqm. The company launched the HQ project last November, and it comprises of commercial and administrative units, with total investments worth EGP 1bn. Chairperson of MG Developments, …

Shaimaa Al-Aees