amwalalghad :: Real Estate

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        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        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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

Marwa Hemdan - 2016-10-09 15:02:39
Egypt’s Arab Contractors has signed on Thursday an AED 55 million (133 million Egyptian pounds and $15 million) contract with UAE-based Al Ghurair Properties to develop two hotel buildings in downtown Dubai. The contract involves the first phase of a larger project in the UAE worth AED 600 million or 2.45 billion pounds, Arab Contractors’ chairman Mohsen Salah said. Each building in the hotel projects consists of a basement and four stories with 150 square metres building space. The Egyptian company will also start implementing 10 more buildings by the beginning of next year, Salah added. The signing ceremony was attended by Karim Ismail,projects manager at Al Ghurair Properties, and Mohammed Essam, head of Arab Contractors office in the UAE, and Monjid Al-Alamy, Vice Chairman of Al Ghurair Properties. More»
Amwal Al Ghad English - 2016-10-09 10:03:11
Egypt’s second-largest listed property developer, Palm Hills announced Sunday that it commenced monetisation of receivables programme including the issuance of securitised bonds by up to 1 billion Egyptian pounds ($112.6 million). This comes as part of Palm Hills’ plans to deleverage its balance sheet through monetising receivables of up to 2.5 billion pounds over two to three-year period. Bonds will have expected tenor of five years, will mainly target money market funds, local banks, and insurance companies. The company further said the transaction proceeds to be mainly utilised in refinancing existing debt, in form of non-recourse off balance sheet financing. First transaction is seen closing in last quarter of 2016 for total consideration of 350 to 450 million pounds in receivables relating to delivered units in some of Palm Hills’ projects. More»
Amwal Al Ghad English - 2016-10-08 08:46:05
All the obstacles facing Singapore's property market might not be cleared, but one dark cloud over the luxury end has disappeared, analysts said on Friday. Singapore's extremely-high-end properties are now cheap compared with similar luxury properties in other major capital cities, according to Brandon Lee, a property analyst at JPMorgan in Singapore. After a 15-25 percent drop in prime and luxury residential prices since the market peak in 2011, Singapore's properties now represent a good deal for ultra-high-net-worth investors who were comparison shopping between capitals, Lee said. Luxury housing in London, Hong Kong and New York was changing hands at prices as much as 165 percent higher than in Singapore, Lee noted. That "very attractive" gap was drawing interest from private equity and global property funds keen to buy multiple apartments from developers in "block" deals, Lee said. Family offices and rich individuals were also increasingly interested in making purchases, he noted. Despite often needing to offer additional discounts to do those bulk deals, developers have a big motivation: Singapore's government does not allow developers to sit on unsold units while waiting for buyers to return to the market. Any units unsold two years after a project's completion face an "extension charge" of 8 percent of the proportional land cost for the first year, rising to 16 percent in the second year and 24 percent in the third. Some experts told CNBC the recovery in Singapore's ultra-high-end property was overdue. "Values in the market are a joke in comparison to some markets," such as London, Hong Kong and Monaco, said property investor Alexander Karolik Shlaen, an economist and CEO of Panache Management, a luxury brands and investment adviser. He noted that Singapore's freehold luxury property prices were running at about $2,000 a square foot, which he said in London wouldn't be considered a luxury price. Shlaen expected that purchasers who weren't subject to Singapore's Additional Buyer's Stamp Duty (ABSD) rule would also be motivated to buy. In a bid to rein in its housing market's sharp price rises, from 2011 Singapore's government imposed a series of cooling measures, including the ABSD, which adds much as an additional 15 percent to the purchase price for foreign buyers and Singaporeans with more than one property. While the additional cost may not seem terribly onerous for buyers at the high end, it appears to have successfully dampened interest in luxury properties in the city-state. But due to tax treaties, buyers from some countries, including the U.S., Switzerland and Lichtenstein, are exempt. JPMorgan's Lee noted that in an unusual development, Americans became the second-most frequent buyers of high-end Singapore homes in the second quarter. Individuals from Malaysia, Indonesia and China usually dominate the list, Lee said. "It could reflect that prices have fallen enough to look at the space," Lee said. But he was quick to note that he only saw Singapore's high-end as having bottomed out; the mainstream housing market still had room to drop, he cautioned.All the obstacles facing Singapore's property market might not be cleared, but one dark cloud over the luxury end has disappeared, analysts said on Friday. Singapore's extremely-high-end properties are now cheap compared with similar luxury properties in other major capital cities, according to Brandon Lee, a property analyst at JPMorgan in Singapore. After a 15-25 percent drop in prime and luxury residential prices since the market peak in 2011, Singapore's properties now represent a good deal for ultra-high-net-worth investors who were comparison shopping between capitals, Lee said. Luxury housing in London, Hong Kong and New York was changing hands at prices as much as 165 percent higher than in Singapore, Lee noted. That "very attractive" gap was drawing interest from private equity and global property funds keen to buy multiple apartments from developers in "block" deals, Lee said. Family offices and rich individuals were also increasingly interested in making purchases, he noted. Despite often needing to offer additional discounts to do those bulk deals, developers have a big motivation: Singapore's government does not allow developers to sit on unsold units while waiting for buyers to return to the market. Any units unsold two years after a project's completion face an "extension charge" of 8 percent of the proportional land cost for the first year, rising to 16 percent in the second year and 24 percent in the third. Some experts told CNBC the recovery in Singapore's ultra-high-end property was overdue. "Values in the market are a joke in comparison to some markets," such as London, Hong Kong and Monaco, said property investor Alexander Karolik Shlaen, an economist and CEO of Panache Management, a luxury brands and investment adviser. He noted that Singapore's freehold luxury property prices were running at about $2,000 a square foot, which he said in London wouldn't be considered a luxury price. Shlaen expected that purchasers who weren't subject to Singapore's Additional Buyer's Stamp Duty (ABSD) rule would also be motivated to buy. In a bid to rein in its housing market's sharp price rises, from 2011 Singapore's government imposed a series of cooling measures, including the ABSD, which adds much as an additional 15 percent to the purchase price for foreign buyers and Singaporeans with more than one property. While the additional cost may not seem terribly onerous for buyers at the high end, it appears to have successfully dampened interest in luxury properties in the city-state. But due to tax treaties, buyers from some countries, including the U.S., Switzerland and Lichtenstein, are exempt. JPMorgan's Lee noted that in an unusual development, Americans became the second-most frequent buyers of high-end Singapore homes in the second quarter. Individuals from Malaysia, Indonesia and China usually dominate the list, Lee said. "It could reflect that prices have fallen enough to look at the space," Lee said. But he was quick to note that he only saw Singapore's high-end as having bottomed out; the mainstream housing market still had room to drop, he cautioned. "If you look at unsold inventory, it's at a record low" for the high end, Lee said, but he added that wasn't true of the mass-market segment, which he said would see further supply growth even amid vacancy rates that were already as high as 15 percent. That segment also hadn't seen too much in the way of price declines yet, he said. "The only reason why we've not seen a lot of distressed properties out there is interest rates are still very low. Owners of properties have strong holding power and they're not willing to take a haircut," he said. Singapore's Urban Redevelopment Authority released a flash estimate on Monday that showed the city-state's private home prices fell at the fastest pace in seven years in the third quarter. The private residential property index fell 1.5 percent to 137.9 in the July-September quarter, according to the URA, after falling 0.4 percent in the previous quarter. The latest drop was the largest quarterly decline since home prices slid 4.7 percent in the second quarter of 2009, when fallout from the global financial crisis slammed into Asia and pushed Singapore's economy into contraction. More»
Amwal Al Ghad English - 2016-10-06 11:50:36
Egypt’s Court of Cassation decided Wednesday to temporarily suspend a three-year jail sentence handed to Mubarak-era housing minister Ibrahim Suleiman over squandering public funds, pending final verdict next December. The former minister is appealing the jail sentence he received in 2013 for selling public land to real-estate developer SODIC at below market prices. Suleiman, who served as  minister of housing under Mubarak from 1993 to 2005, was found guilty of costing the treasury an estimated 1 billion Egyptian pounds and ordered to pay 970 million pounds in damages and fines back to the state. His defence team pushed for voiding the sentence against their client, arguing the prosecution's charges were faulty and witnesses' testimonies wrongly attributed. SODIC is a real-estate development company owned by fugitive businessman Magdy Rasekh, the father-in-law of ousted president Hosni Mubarak’s son Alaa Mubarak. In 2013, an appeals court lowered the initial five-year jail sentence Suleiman received in his first trial in March 2012 to three years. Rasekh, who received a five year jail sentence in absentia in the same case as Suleiman, must turn himself in to authorities before requesting a retrial. More»
Amwal Al Ghad English - 2016-10-05 07:45:05
China's Fortune Land Development (CFLD) signed an agreement with Egyptian government to develop second and third phases in New Administrative Capital City with investments worth US$20billion. In a statement, Egypt's Cabinet said that the first and second phases aim to draw in foreign investments of $15 billion by June 2020.The agreement, signed by Egypt's housing and investment ministers, states that the Chinese company will "manage, develop and market" more than 14,000 acres in phase two of the megaproject including all relevant infrastructure, accommodations and work facilities, while the government would provide it with all necessary permits. The construction of the first phase, executed by local construction companies, started in April this year and is expected to be completed in two years. The new capital, which is part of President Abdel-Fattah El-Sisi’s plan to boost the Egyptian economy through a series of mega-projects, is estimated to cost $45 billion. More»
Sanaa Allam - 2016-10-04 11:46:54
The total number of housing unites executed by public and private sectors reached 1.2 million during the last five years with investments worth 109.6 billion Egyptian pounds (US$12.3 billion). State's statistics body Central Agency for Public Mobilization and Statistics (CAPMAS) announced Monday -in a press release- that private sector seized 58.3 percent of total executed units while the public sector got 41.7 percent. In fiscal year 2014-15, public sector executed 221,500 housing units while private sector implemented 131,100 units, the report clarified. CAPMAS stated that Port Said governorate seized the lion's share of executed housing units with 33,500 units (25.6 percent of the total number), followed by Giza governorate with 12,600 housing units (9.6 percent). The number of implemented housing units in Sohag governorate recorded 11,000, getting 8.4 percent of the total number. More»
Marwa Hemdan - 2016-10-04 11:45:58
Egypt’s Arab Contractors is currently carrying out infrastructure and housing projects worth 2.8 million Egyptian pounds ($315 million) in the country’s anticipated new administrative capital, its chairman said Tuesday. Salah added to Amwal Al Ghad that his company is assigned to implement the main water network of the first phase of the Egyptian capital city project which will be 1000mm wide. Arab Contractors has also co-designed main roads in the new capital city in a six-month timeframe at a cost of 230 million pounds, Salah added. The company is currently executing infrastructure works over 550 feddans in the residential neighborhood of the capital city including electricity, rainwater drains, and sanitation projects, he stated. More»
Mohamed Hamdy - 2016-10-03 12:41:09
Egyptian Mortgage Refinance Company (EMRC) has pumped finances estimated at 105 million Egyptian pounds ($11.9 million) in the past eight months, it announced in a statement on Sunday.Mortgage activity has increased in the first eight months of 2016 to 677 million pounds from 611 million pounds in the same period in 2015.The balance of current finances for mortgage firms reached 2.8 billion pounds by the end of August 2016, 11 percent higher from the same period last year.A lender to mortgage providers, EMRC was established in 2006.  More»
Maha Essam - 2016-10-03 12:50:53
Egypt-based real estate developer, Abraj Misr eyes achieving contract sales estimated at 1.6 billion Egyptian pounds (US$180 million) by the end of 2016 versus 560 million pounds in 2015. Speaking to Amwal Al Ghad, Chairman Ali Rabie clarified that the company plans to attain this volume of contract sales through The Gate and The Shore projects. He stated that Abraj Misr adopts a strategy that depends on three axes notably start working powerfully in The Gate and The Shore projects in North Coast besides delivering all units in Florenta projects. Abraj Misr built its marketing strategy and targeted sales for 2016 on a number of facts notably the real demand of local market, the chairman said. Additionally, the strategy relies on the increasing annual gap between the demand and number of available units as well as providing significant real estate products with high competitiveness. More»
Hisham Ibrahim, Sanaa Allam - 2016-10-03 09:51:09
Egyptian Alkan Holdings Group targets finishing its real estate project Citadel Plaza within five years with investments estimated at around US$600 million. Speaking to Amwal Al Ghad Sunday, Chairman Khaled Nosseir stated that the group recently inaugurated the administrative building of the project. The group is currently starting the construction works of the commercial area at the project to be followed by the hotel, the official noted. Nosseir pointed out that the group adopts a strategy that includes expanding and injecting more investments in automotive sector since it pumped 250 million Egyptian pounds within the last four years. Moreover, the chairperson asserted that pumping the new investments depends on state's parliament to endorse the strategy of developing automotive industry. More»