Construction News
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Kuwaiti Al-Manshar to develop LE2 billion project in Egypt
The board of directors saw a need to take advantage of the Egyptian government’s keenness to attract investments.
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Official says 700 bridges in Egypt at risk of collapsing
75 percent of roads in Egypt are “deficient” and are in urgent need of rehabilitation.
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EALB in talks with 5 Gulf firms to market its property assets
The bank has recently contracted with Marsa Abu Dhabi Properties LLC to marketing assets for Egyptian abroad in the current year.
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Al-Futtaim to invest $700 mln in Egypt after dispute settled
Investments would be directed towards new projects in a second phase of the company's Cairo Festival City development.
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Egypt's Amer Group to become two companies
Real estate developer will become two companies in order to show actual value of its Porto projects and as part of wider plans to expand other developments.
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Egypt hires German firm to bore transport tunnels under Suez Canal
Unlisted Herrenknecht AG was discussing contract details, a spokesman for the company said on Friday, giving no details.
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Egypt says it resolves land dispute with Dubai’s Al-Futtaim
A government source had previously said the negotiators were considering a payment of around 235 million Egyptian pounds ($33 million).
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Egypt's SODIC reports 37 pct rise in profit
SODIC, Egypt's third-largest listed property developer, reported a 37.4 percent rise in nine-month net profit on Tuesday.
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Orascom Construction to obtain IPO in February: Nassef Sawiris
Company won international arbitration case against petroleum ministry but decided not to act upon it, the businessman says.
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UAE's Aabar buys 5.1% stake in Palm Hills
Aabar, a subsidiary of the United Arab Emirates' sovereign wealth fund and run by the Abu Dhabi government, will have a representative on the board.
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KEPCO to build Korean Nuclear Plant in Egypt
Korea Electric Power Corporation (KEPCO) held “Korean Nuclear Industry Roadshow” at Cairo, Egypt from Nov. 5 to 6.
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Egypt steel producers lower prices in November
Price cuts come after last month's introduction of temporary import tariffs to protect local steel makers from influx of cheaper steel from abroad.
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OCI wins appeal to Egypt's tax authority, Sawiris plans large investments
In July, Sawiris was sentenced in absentia to three years in prison and fines worth LE50 million on charges related to the case.
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Egypt's Arabian Cement agrees joint venture with Brazil's Cementos La Union
The investment cost of 23 million Euros would be financed 50 percent through debt and equity, the statement read.
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JPMorgan, EFG-Hermes said to be working on Emaar’s Egypt IPO
Engagement letters are due to be signed with the banks this week to run the initial public offering of Emaar Misr.
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Final ruling for the OCI postponed to 4 November
Following a number of meetings with the Egyptian government, the tax dispute liability case was referred back to the committee.
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Egypt greenlights construction of grain storage hub
Egypt approved construction of a ‘global logistics hub’ for grain storage in the country in an effort to reduce annual food import bill.
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The real estate market in Egypt is experiencing intense competition
The real estate industry has gone through different stages since the 1980’s while gaining an increasing importance for the Egyptian economy.
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Egypt aims to get infrastructure improvements back on track
Zazou said he was confident that Egypt’s tourism industry is turning around and that money is flowing back in.
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Egypt turns to illegal buildings to tackle housing crisis
The cabinet approved the project designed to help Egyptians who built or bought bare apartments in the unplanned buildings.