Construction News
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Contact increases its mortgage finance to EGP 6m with 10-year payment plan
Contact provides mortgage finance services to individuals directly or through real estate developers.
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Egypt: Al Fanar’s OGM nods to bonus shares distribution
Al Fanar is an Egypt-based company, operating within general contracting, construction, trade, import, and export.
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Egypt allocates EGP 17bn to implement 360 development projects in Sinai
These directions come in agreement with the sustainable development strategy within the framework of – Egypt’s Vision 2030.
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Fitch Ratings: Egypt 2nd largest steel producer in MENA region
This came in a report published by the Cabinet’s Information and Decision Support Center (IDSC) earlier in April.
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Q Developments expands into Egyptian real estate market
Q Developments is an Egyptian joint stock company established in 2016 and owns 50% of shares of Jumeirah Egypt for Constructions.
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Fitch expects Egypt construction industry to expand by 6.8%
Associated improvements to the operating environment in the sector will likely draw in foreign and local investment.
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Madinet Masr agrees to capital hike
Accordingly, the capital will see an increase of EGP 35 million to EGP 2.135 billion from EGP 2.1 billion.
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Talaat Moustafa Group opens the door for leasing in “East Hub'
The offering came at an Iftar party organized by the Talaat Moustafa Group, on Thursday, April 13, at the “East Hub” project in Madinaty.
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Egypt’s construction industry to expand by 6.8% y-o-y: Fitch Solutions
The report stated that Saudi and UAE-based investors will be key strategic partners for the Egyptian government.
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Egypt's housing construction declined by 36.6% in FY2021/22
A total of 246,100 residential units were built in Egypt during FY2021/2022, a 36.65 percent decline over the previous year.
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Egypt to build $2.7bln aluminium smelter
The Egyptian Company for Metal Constructions (Metalco) is negotiating with a potential partner for the 600,000-tonne project.
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FRA issues regulations for investment funds in minerals
The Board of Directors of the Financial Regulatory Authority issued several regulatory decisions related to investment funds in minerals.
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Factory for manufacturing steel sheets used in ships "underway"
The ministry has reached an agreement with a South Korean company to purchase five ships for Alkahera Company For Ferries and Maritime Transport KCFM.
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Q Developments initiates it business in Egypt’s real estate market
Q Developments plans to launch 3 projects in North Coast and Alexandria, with investments worth EGP 9bn.
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Egypt’s President Sisi inspects number of construction projects in Giza
The president added that these projects save time, effort, fuel, and cost wasted in the process of movement and transportation.
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Egypt emerges as top steel producer in Africa, 2nd in MENA
The report said Egypt has an ambitious target to increase mining exports to $10 billion by 2040.
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LE3.9B allocated for 356 development projects in Gharbia
This came while reviewing the ministry's report on investments in Gharbia governorate.
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Ezz Steel registers $214.8mln consolidated profits in 2022
In the first nine months (9M) of 2022, the EGX-listed company witnessed 52% YoY higher consolidated net profits.
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Egypt: Misr Cement increases cash dividends for 2022
The distributable net profits amounted to EGP 72.26 million as of 31 December 2022, according to a bourse disclosure.
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On 80th anniversary, Dorra maintains leadership in Egypt’s real estate market
Sultan added that the company began executing its own real estate projects such as Zayed 2000, Zayed Residence, and Zayed Heights.