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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Business - Real Estate

Amwal Al Ghad - 2012-05-09 11:55:29
Saudi billionaire Prince Alwaleed bin Talal is eyeing three big investments in the near-term, setting a high bar for the acquisitions as he pursues ambitious returns of at least 20 percent, he told a German newspaper. Alwaleed, a nephew of Saudi Arabia's king who was estimated by Forbes magazine last year to have a fortune of over US$19bn, already owns a 7 percent stake in News Corp and plans to start a cable news channel. "We are currently in talks over three quite big [investment] projects - one in Saudi Arabia, one in the [Arab] region and one internationally," Alwaleed told business daily Handelsblatt's Tuesday edition. "Our targets are very high - at least 20 to 25 percent. Other Arab investors take a different stance, they want to diversify away from oil and take lower returns of 6 to 8 into account," he added. More»
Amwal Al Ghad - 2012-05-07 13:59:02
Emirates Green Building Council (EmiratesGBC), an independent forum aimed at conserving the environment by strengthening and promoting green building practices in the UAE, put the spotlight on air-conditioning and refrigeration systems and their energy consumption patterns at its recent monthly networking event. Held at Media Rotana International, the session featured Cas Khoo, President of Articmaster Inc, USA, as guest speaker. The discussion on 'Energy Efficient Solutions for Air-conditioning & Refrigeration Systems' highlighted the different technologies that are currently available to address the massive energy consumption accounted for by the two systems. Adnan Sharafi, Chairman of EmiratesGBC, said: "It is estimated that air-conditioning and refrigeration systems contribute up to 70 per cent of the total energy load of buildings. Additionally, their operations also contribute to greenhouse gases that cause environmental degradation. Adapting energy-efficient solutions for air-conditioning and refrigeration thus have the twin benefits of saving on energy costs and also helping develop environmentally sustainable built environments." He added: "EmiratesGBC is committed to introduce topics that are of great importance to the entire construction sector supply chain. Our networking events have now evolved as dynamic discussion forums that encourage our members as well as other industry stakeholders to take an active role in promoting environmental sustainability in line with the green vision of the UAE." More»
Amwal Al Ghad - 2012-05-07 13:59:01
Emaar Hospitality Group , the hospitality and leisure subsidiary of global property developer, Emaar Properties PJSC, has triumphed at numerous global award ceremonies. Most recently, Emaar Hospitality Group won two honours including the 'Middle East's Leading Development Company,' at the annual World Travel Awards 2012 East Awards 2012; and the Expedia Award for The Address Downtown Dubai, underlining the group's commitment to unparalleled service. Jurgen Baumhoff, Chief Operating Officer, Emaar Hospitality Group , said: " Emaar Hospitality Group offers three key differentials - location, high standards of service and ensuring tangible guest benefits - which have become the benchmarks in hospitality in the region. These awards are a true testament to our commitment to continued excellence." In previous years, Emaar Hospitality Group was awarded the 'Middle East's Leading Tourism Property Development Company' at the World Travel Awards 2010, and 'Leading Developer of the Year' & for 'Excellence in Hospitality' (Organization) at the Middle East Hotel Expansion Congress in 2009, among others. Emaar Hospitality Group owns and manages a diversified portfolio of hospitality assets including hotels, serviced residences, golf retreats, a polo and equestrian club, lifestyle dining outlets and the Dubai Marina Yacht Club and Marinas. More»
Amwal Al Ghad - 2012-05-07 12:27:20
Mall operator Majid Al Futtaim today announced that it plans to open 20 additional outlets at its Mall of the Emirates centre before the end of the year. New stores at the Dubai-based mall - which is home to the world's largest indoor ski slope - include high-end designer brands Prada, Longchamps and Kate Spade, which are all set to open in summer. Eateries including International House of Pancakes, The Cheesecake Factory and the UAE-based fast food outlet Just Falafel will also open at the centre. “Retail stores and restaurants seeking to expand throughout the world are often choosing the UAE to open their first Middle East location, based on the growing demands for high-fashion and choice across shopping and dining sectors, said Fuad Sharaf, senior asset director, asset management, shopping malls, at MAF. “Mall of the Emirates is boosting the UAE’s retail landscape by offering international brands with a platform for growth,” he added. Last month, the company revealed plans to increase rents for retailers this year, as revenues at the shopping hub continue to rise. Executives at Majid Al Futtaim (MAF) Properties told Arabian Business that rates would go up in 2012 after the mall, home of Ski Dubai, reported a 16 percent rise in sales in Q1. More»
Amwal Al Ghad - 2012-05-07 12:23:12
Jebel Ali Free Zone, a business park operator in Dubai, will seek approval from holders of its AED7.5bn (US$2bn) Islamic bonds to redeem the trust certificates ahead of their maturity in November. Jebel Ali “is in advanced discussions with a group of financial institutions in relation to a financing package,” the company said in a statement to Nasdaq Dubai. “The use of proceeds will be solely for the redemption of the certificates ahead of the scheduled redemption date.” Investors have been concerned about Jebel Ali Free Zone’s ability to repay the sukuk. The state-owned company plans to seek a US$900m syndicated loan, sell US$500m of Islamic bonds, raise at least US$200m from the sale of its UK-based Gazeley unit and pay the remaining with its own cash, a banker familiar with the plan said March 28. “The trustee is proposing the introduction of a call option to provide JAFZ with enhanced flexibility to implement the new financing in a timely and efficient manner and to allow the timing of the dissolution of the underlying trust to be coordinated with the new financing,” the company said. Jebel Ali Free Zone plans to repay the sukuk at par and will redeem all the certificates, it said. A meeting of sukuk holders will be held in London on May 24 and investors must turn in their voting instructions by 4pm London time on May 22. The floating-rate Islamic notes were trading at 97.16 fils to the dirham at 4:22pm. Dubai, according to data compiled by Bloomberg. The securities have gained 4.9 percent this year. More»
Amwal Al Ghad - 2012-05-06 10:23:32
Seef Properties signed a partnership agreement with Muharraq Mall Company announcing their acquisition of a 50% stake in the upcoming Muharraq Seef Mall near Arad Fort. The new partnership paves the way for the development of the BD18.7m project whereby Seef Properties will be responsible for the leasing and management of the mall which is projected to open by Q3 2014. Integrated with the new corniche constructed along Arad bay, the Muharraq Seef Mall has a total leasable area of 30,000 sqm and will have on-grade parking with retail space spread over two levels. The projectwill contain retail and leisure outlets and has been designed to cater for the needs of the residents living in Muharraq and visitors alike. The project includes an open air amphitheatre that will be used for public and cultural events. The Chairman of Seef Properties, Shaikh Abdulla bin Khalifa Al Khalifa said, "This acquisition marks an important milestone in the evolution of Seef Properties as it becomes the leading mall developer in Bahrain. We see this project as an important facility for the residents of Muharraq, and also an indicator of business confidence in Bahrain. We hope to be able to announce further acquisitions or developments in the near future." More»
Amwal Al Ghad - 2012-05-06 10:22:46
Drake & Scull Construction the Civil ( DSC) Contracting arm of Drake & Scull International (DSI) PJSC, a regional market leader in integrated design, engineering and construction disciplines of Civil ContractingWater and Power and Mechanical, Electrical and Plumbing (MEP), has announced that it has been selected as the main contractor for the construction of the Binary commercial tower at Dubai's Business Bay. The contract is valued at AED 200 million and the scope includes all associated construction works to complete the tower. Developed by 'Omniyat' a market leading real estate development company based in Dubai, the Binary is a 25-story commercial tower offering grade A commercial space with magnificent waterfront views of the thriving Business Bay area in the heart of Dubai's Skyline. "We have been able to secure some of the key developments that we have been eyeing over the past months as part of our efforts to increase our market share in the civil business across the MENA region. The Binary agreement reflects our successful and continuous growth in this line of business and gives us cautious optimism about the construction industry outlook in the UAE. We have already mobilized on site and commenced work with an estimated completion date in early 2014" said Saleh Muradweij, Managing Director of Drake and Scull Construction. More»
Amwal Al Ghad - 2012-05-06 10:13:10
Dubai Dubai Properties Group ( DPG ) will make an announcement by the end of the year as to when it will deliver projects that had been on hold, the group chief executive said. “At the end of this year we will announce when the projects held in the past will be delivered,” Khalid Al Malek told Gulf News, when asked for a status update on the company’s delayed projects. Both the Remraam and Bay Square projects are in the delivery stage and Business Park is in the planning phase, he said. “The DPG is focused to continue financing and developing projects announced earlier in our destinations like Dubailand and enhance the environment in JBR and Business Bay,” Al Malek added. The company’s leasing portfolio is helping its liq-uidity, he said. The retail segment of JBR has 90 per cent occupancy and the residential segment has 95 per cent occupancy such as in Shorooq and Ghoroob Mirdiff properties, he said. More»
Amwal Al Ghad - 2012-05-06 10:13:05
Dubai The Dubai World Trade Centre ( DWTC ) yesterday reported a year-on-year spike in event-related traffic with over 1.65 million visitors attending major trade fairs in 2011. The DWTC also reported a 7 per cent increase in exhibiting companies from over 120 countries. "As financial prudence and austerity continue to be worldwide priorities, our focus in 2011 was to build on the strength of Dubai's stability and provide an immensely secure networking base connecting not just international buyers, investors and high-growth regional markets, but also industry experts, business leaders and associations, to promote an active dialogue and consequently generate sustained economic activity," said Hilal Saeed Al Merri, CEO of the Dubai World Trade Centre . DWTC said there was an increase in attendance figures across all exhibitions, led by larger events including Arab Health, Gulfood, Gitex Technology Week, the Dubai Air Show, Big-5 and the Dubai International Motor Show. More»
Amwal Al Ghad - 2012-05-02 12:18:51
Signalling the beginning of Dubai's property sector's long awaited revival, a leading master developer said on Tuesday that it would go ahead with all its mega projects that have been stalled or delayed amid the financial meltdown. Dubai Properties Group , or DPG , a pioneering community developer, said it would complete all projects it had announced as it saw a reemergence of investor confidence restoring vibrancy in the property market. "We are more focused and determined now and have in place a clear roadmap to restart all projects that were put on hold," said Khalid Al Malik, Group chief executive of DPG , a member of Dubai Holding. DPG has delayed the construction of some of its mega projects following a steep fall in real-estate values, which have fallen more than 60 percent in Dubai and 45 percent in Abu Dhabi from 2008 peaks after the global credit crisis caused banks to curtail lending and speculators left the market. More»