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February 24th, 2019

   
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Highlights

 

Draft Law for Real Estate Development Should Be Finalized in 2M: PM
  Prime Minister Mostafa Madbouly gave directives to quickly finalize the draft law that will regulate the real estate development activity within two months, Invest-Gate reports
 

Government' Updates

 
 
Housing Minister Reviews Latest Updates at 1st Meeting
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar held his first meeting on February 13 with top leaders of the New Urban Communities Authority (NUCA) to follow up on the current fiscal year plan, as well as the development progress at the country’s new cities, Invest-Gate reports.
 
 
Completion of 2 Major Road Projects by Next April
Chairman of Sinai Reconstruction Authority Mohsen Saeed has unveiled that the June 30 Axis is 94% completed and is expected to be finalized by next April, while the implementation rate at western Assiut Plateau road project reached 75%, with expectations to be completed during the same month, Invest-Gate reports.
 
 
CBE Lowers Interest Rates by 1%
The Central Bank of Egypt (CBE) announced that its Monetary Policy Committee (MPC) decided to cut interest rates by 1%, Invest-Gate reports.
 
 

Developers News

 
 
Tatweer Misr Inks Deal for Triple Play Services in Fouka Bay
Egypt’s real estate developer Tatweer Misr has signed a partnership agreement with mobile operator Orange Egypt to provide Triple Play services for one of the developer’s projects, Fouka Bay in North Coast, Invest-Gate reports.
 
 
Savills Expands in Egypt with One Zamalek
Savills, a UK-based real estate adviser, announced on February 20 the launch of its premier residential project that it is managing in Cairo, One Zamalek, Invest-Gate reports.
 
 
Emaar Misr Delivers 1st Phase of Beyout El Kheir Project in Qena
Emaar Misr, in collaboration with Misr El Kheir Foundation, has delivered the first phase of “Beyout Al Kheir” project in Qena governorate, which is aimed at improving the living conditions of thousands of less privileged families in Egypt’s villages and governorates, Invest-Gate reports.
 
 
Amer Group to Launch New project in Matrouh Soon
Amer Holding Group said it would launch soon the Porto Garawlah project in Marsa Matrouh, Invest-Gate reports.
 
 
Beta Egypt Officially Delivers October Gardens’ Compound
Beta Egypt for Urban Development has officially delivered Beta Greens compound at October Gardens, west Cairo, six months ahead of schedule.
 
 

The Middle East's Latest

 
 
Emaar Properties Sees 30% Rise in 2018 Profits
Emaar Properties has posted a net profit of AED 7.216 bn in 2018, a 30% rise from AED 5.561 bn reported in 2017, prior to considering the effect of the initial public offering (IPO) of Emaar Development and forex movement, Invest-Gate reports.
 
 
Imkan Luanches AlJurf Properties for Sale
UAE-based developer Imkan has revealed that properties at its coastal destination, AlJurf, are now on sale to the public, with the launch having taking place on February 19 and 20, Invest-Gate reports.
 
 

Events

 
 
 
IPS Jeddah
Location: Hilton Hall, Hilton Jeddah Hotel
Duration: 4 Days
 
   
 
 
Egy Home Tex Exhibition
Location: Cairo International Convention & Exhibition Center
Duration: 4 Days
 
   
 
 
The Third Real Estate Investment Workshop
Location: 203 Cairo Business Plaza, Southern Tower, New Cairo
Duration: 3Days
 
     
     
     
     
     

Infographs of The Week

 
 
 
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