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IMF negotiates to involve real estate developers in economic housing

Chairperson of the Real Estate Development Chamber Tarek Shoukry revealed that the International Monetary Fund (IMF) is negotiating with real estate developers to encourage involving private developers in providing economic governmental housing. On Tuesday, the IMF began negotiation meetings with key real estate developers to discuss the possibility of participating in an economic housing programme …

Shaimaa Al-Aees

Royal Gate directs EGP 150m to real estate projects in 2018

Royal Gate for Housing Development targets pumping EGP 150m worth of investments in 2018 to develop separate real estate projects in the cities of Shorouk, Madinaty, and New Cairo. The company aims to acquire plots of land in the New Administrative Capital in 2018 to start implementing the first integrated residential compound as well as …

Shaimaa Al-Aees

Will the government partner small, medium real estate companies?

As the government has recently held partnerships with some developers, such as Mountain View, Arabia Group For Real Estate Investment, and Palm Hills, many small- and medium-sized real estate companies are asking the government to participate in implementing a number of small projects by offering small plots of land to diversify investment opportunities and support …

Shaimaa Al-Aees

11m real estate units in Egypt vacant: MENA for Development Consultancy

Fathallah Fawzy, chairperson of Mena for Development Consultancy, said that vacant real estate units in Egyptreached 11m, 40% of them within the old rental system, while the percentage in cities close to Cairo does not exceed 15-20%. Meanwhile, 10 Tooba for Applied Research on the Built Environment said that there are 6.409m total vacant units …

Shaimaa Al-Aees

Next Move exhibit looks to entice middle-income market

Developers at the inaugural edition of Next Move Egypt exhibition, which runs from Thursday through Saturday at the Cairo International Convention Centre, will look to entice potential buyers with a range of cutting-edge apartment units, townhouses and community villas with attractive, flexible payment plans. The first edition of Next Move Egypt, powered by Cityscape, will …

Daily News Egypt

Government not competitor to real estate private sector: minister

Minister of Housing and Acting Prime Minister Mostafa Madbouly said the government is not a competitor to the private sector in real estate, but it seeks to play a complementary role to meet the needs of the market. Madbouly added during “Egypt’s Real Estate Industry: Investing in the Future” conference held Tuesday, by the American …

Daily News Egypt

Imposing new steel, cement fees will not affect real estate prices

The new health insurance law, due to go into effect after parliament approved it last week, is set to see new fees imposed on certain commodities to finance the program. The Health Affairs Committee of Parliament approved on Tuesday the draft of comprehensive health insurance law, in which it authorised the article on additional sources …

Shaimaa Al-Aees

Real estate companies exposed to failure within 10 years: Esmaar CEO

The real estate companies are exposed to failure within 10 years without keeping pace with technology in the sector, said Mohamed El Husseiny, CEO of Esmaar Company. Recently, there are various different real estate technology tools that will achieve a boom in the sector. Real estate marketing companies have managed to be more than just …

Shaimaa Al-Aees

IDBE-Egypt expands real estate finance

Chairperson of the Board of Directors of the Industrial Development Bank and Egyptian Workers (IDBE-Egypt) Maged Fahmy, and Mai Abdel Hamid, head of the Mortgage Finance Fund (MFF), signed a cooperation protocol to increase the former’s stake in the Central Bank of Egypt (CBE)’s initiative to finance housing for low and medium-income persons. The bank …

Daily News Egypt