Egypt - The Arabian Kuwaiti Group is set to bolster its presence in the Egyptian market with a significant increase in investments, targeting the attraction of over 100,000 tourists annually to its flourishing tourism ventures.   Previously, the group strategically acquired a $20m hotel in Sharm El Sheikh, which is undergoing development to emerge as a top-tier luxury hotel brand.   Moreover, the group is poised to establish a vibrant commercial district poised to become a key draw in Sharm El Sheikh’s prime locales. Ongoing negotiations for acquiring additional hotels in the region are underway, aiming to solidify the group’s influence in Egypt’s tourism industry.   In the realm of agriculture, the Arabian Kuwaiti Group has successfully reclaimed…

Cairo – The Urban Communities Authority (NUCA) has received technical and financial proposals from Hyde Park, Madinet Masr Housing and Development, and Mountain View to participate in the New Heliopolis City project. Heliopolis Company for Housing and Development announced the completion of the technical evaluation of the proposals and that the financial evaluation is expected to be concluded by the end of April 2024. The value of New Heliopolis City’s land exceeds EGP 10 billion. In March 2024, Heliopolis Company received a technical and financial offer from Madinet Masr for the development of three plots of land in New Heliopolis City. Heliopolis Company’s net profit registered EGP 7.80 billion in 2023, a surge from EGP 603 million a year earlier.

Cairo – The Urban Communities Authority (NUCA) has received technical and financial proposals from Hyde Park, Madinet Masr Housing and Development, and Mountain View to participate in the New Heliopolis City project.   Heliopolis Company for Housing and Development announced the completion of the technical evaluation of the proposals and that the financial evaluation is expected to be concluded by the end of April 2024.   The value of New Heliopolis City’s land exceeds EGP 10 billion.   In March 2024, Heliopolis Company received a technical and financial offer from Madinet Masr for the development of three plots of land in New Heliopolis City.   Heliopolis Company’s net profit registered EGP 7.80 billion in 2023, a surge from EGP 603 million a…

Egypt - Al Ahly Sabbour Developments, a premier real estate developer in Egypt, has unveiled its bold business plan for the year, which entails the addition of approximately 2,000 new feddan by year’s end, as stated by Chairperson Ahmed Sabbour. Sabbour conveyed to Daily News Egypt the company’s robust expansion strategy, which has already seen a 36% increase in land assets in this year’s first quarter, amounting to 1,045 feddan. This growth includes 181 feddan in Mostakbal City’s initial phase, solidifying Al Ahly Sabbour’s role as a leading developer in the region. Moreover, the acquisition of 864 feddan in Ras Al Hekma on the North Coast bolsters the company’s footprint in this coveted area, complementing its North Coast endeavors. These projects…

Arab Contractors and El Attal Holding, two of Egypt’s leading real estate developers, have formed strategic partnership agreements to advance a range of property projects across the country. El Attal Holding’s chairman, Ahmed El Attal, highlighted the importance of this partnership by referencing the company’s distinguished past and extensive knowledge base, which encompasses over 76 years in the Egyptian real estate industry. Ahmed El Assar, Chairperson and CEO of Arab Contractors, remarked: “This partnership marks a pivotal evolution in our trajectory, marrying the seasoned experience, technical prowess, and strategic foresight of both parties.” “We are thrilled to delve into the myriad prospects this alliance presents,” El Assar…

Egypt - Prime Hospitality Management Group, a leader in managing serviced apartments and holiday homes, has entered into a partnership with Sharm El Sheikh Real Estate to oversee properties owned by investors at the Sharm el Sheikh resort in South Sinai.   As the first and largest entity of its kind in Egypt—and now extending services to Saudi Arabia—Prime Hospitality Management Group offers an innovative alternative for tourists, foreign residents, Arabs, and Egyptians. They provide a new style of accommodation that includes serviced apartments, villas, and holiday homes, which are gaining popularity in the Egyptian tourism sector.   The Group’s services are proliferating across Egypt’s most significant locations, resorts, and cities, with a growing…

El Attal Holding, a prominent real estate developer in Egypt, has entered into strategic partnership agreements with Arab Contractors to spearhead a variety of property projects throughout the nation. Ahmed El Attal, Chairperson of El Attal Holding, emphasized the significance of this collaboration, citing the company’s illustrious history and vast expertise, which spans more than 76 years in the Egyptian real estate sector. Ahmed El Assar, Chairperson and CEO of Arab Contractors, remarked: “This partnership marks a pivotal evolution in our trajectory, marrying the seasoned experience, technical prowess, and strategic foresight of both parties.” “We are thrilled to delve into the myriad prospects this alliance presents,” El Assar added. “Our…

Infinity Towers for Urban Development has announced the completion of over 70% of the construction for the mixed-use Infinity Tower, now standing at a height of 160 metres. This significant progress surpasses the schedule set by the Administrative Capital for Urban Development. The milestone aligns with President Abdel Fattah Al-Sisi’s commencement of his new presidential term, alongside the inauguration of the New Administrative Capital’s (NAC) first phase. Situated in the heart of the NAC’s Central Business District (CBD), Infinity Tower is a beacon of modernity and sustainability. Assaad Salama, Founder and Managing Director, revealed that the tower’s design was a collaborative effort with the renowned Canadian firm NORR Group. This partnership has yielded an…

Egypt - Winvestor Development has secured building permits for the land plot of the “I Sheraton” project in Sheraton, Heliopolis. According to Managing Director Hisham Ibrahim, construction work on the project is set to begin in the second quarter (Q2) of 2024. The project units are expected to be delivered to clients by 2026.   Ibrahim further explained that Winvestor has successfully met its sales targets for the project, offering a range of products tailored to clients’ needs.   The company has also provided marketing and investment solutions, aiming to achieve the best return on investment.   Additionally, Winvestor has partnered with Post Tension Contracting (PTC), specializing in modern construction technology using post-tensioned…

Hisham Talaat Mostafa, CEO and Managing Director of Talaat Mostafa Holding Group, has been recognized as one of the most influential Egyptian real estate developers in the Middle East by Forbes magazine. Forbes attributes this distinction to Talaat Mostafa’s remarkable success over four decades in leading the Talaat Mostafa Holding Group. His contributions include the development of integrated residential communities and major tourism investment projects. Hisham Talaat Mostafa’s achievements are evident in the construction of integrated residential projects spanning a land portfolio of 74 million square meters. Notable among these projects are Nour City and the cities of Celia and Al-Rehab. Additionally, he successfully entered the Saudi market through the Banan Smart City…

Egypt’s currency floatation is likely to boost real estate demand from international investors, according to a new analysis.   The recent decision, as well as the interest rate hike of 600 basis points, may have reduced the value of the Egyptian pound (EGP), but it will have a positive impact on the country’s property market, Savills said in its preliminary insights.   Early this month, the country floated its currency against the US dollar, allowing the exchange rate to be determined by market forces. The move was accompanied by an interest rate increase. The recent decisions have initially lowered the value of the EGP against the US dollar by 60%.   “The float will make property in Egypt more attractive to international investors who had been…

Lasirena Group delivered around 1,200 units across its diverse projects in the North Coast, Ain Sokhna, Sharm El Sheikh, Ras Sidr, and Cairo last year.   Mahmoud Omar, from the Board of Directors, emphasized the company’s commitment to boosting construction rates.   “Despite the real estate market’s challenges and significant shifts in construction costs, we’ve intensified our efforts and invested substantially in 2023 to expedite our projects’ development, ensuring timely delivery to our clients,” Omar stated.   The group is currently developing over 15 varied projects, offering units that cater to the wide-ranging preferences and requirements of the Egyptian real estate market clientele, with a focus on top-tier quality…