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Al-Ahram Weekly
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Egypt
2/24/2024 6:54:00 PM
Egypt’s real-estate developers are resorting to new implementation schedules and pricing policies to navigate market challenges.
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Egypt
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Urban & Transport
2/21/2024 11:07:05 PM
Egypt’s New Urban Communities Authority and "UDC" Real Estate Development Company, a subsidiary of the UAE-based Mohamed Omar bin Haider Group, signed a contract on Wednesday to allocate land for establishing a comprehensive urban development project in Hadayek Al-Andalus area in New Cairo.
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Business
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Economy
2/11/2024 2:12:28 PM
Egypt's leading real estate developer Talaat Mostafa Group (TMG) has completed the final acquisition contract for a majority equity stake of 51 percent with full management rights in seven state-owned hotels, the TMG said in a disclosure statement to the Egyptian Exchange on Sunday.
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Business
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Markets & Companies
1/29/2024 11:35:32 PM
A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden.
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Al-Ahram Weekly
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Egypt
1/23/2024 10:35:08 PM
Foreigners are to be allowed to buy real estate in Egypt in foreign currency in exchange for residency in order to boost the country’s currency reserves, reports Safeya Mounir
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Business
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Economy
1/23/2024 10:17:27 AM
The Egyptian government has pledged to pay EGP 1.4 billion (more than $45 million) annually, covering the real estate tax for the industrial, poultry, and animal production sectors until the end of 2026, Minister of Finance Mohamed Maait said on Monday.
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Business
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Markets & Companies
1/18/2024 7:53:42 PM
The Egyptian Exchange (EGX) indices exhibited outstanding performance during the third week of 2024, overcoming last week's fluctuations and surging by more than five percent, driven by the real estate and basic resources sectors.
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Business
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Economy
1/13/2024 12:56:34 PM
ADQ, an Abu Dhabi-based investment and holding company, and ADNEC Group signed on Friday definitive agreements for the strategic acquisition, through a capital increase, of a 40.5 percent stake in the leading Egyptian real estate developer Talaat Mostafa Group's hotel arm, ICON.
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Business
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Economy
1/8/2024 7:31:33 PM
Egypt is set to establish a company focused on managing real estate export and leasing activities. The company is planned to generate between $2 and $3 billion in revenues, read a report by the cabinet's Information and Decision Support Centre.
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Business
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Economy
12/20/2023 9:20:11 PM
Egyptian leading real estate developer Talaat Mostafa Group (TMG) announced that its hotel arm, ICON, has finalized an $882 million deal to acquire a 39 percent stake in Legacy Hotels, which owns seven historical state-owned hotels, TMG’s Chairman Hisham Talaat Mostafa stated in a press conference on Wednesday.
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Al-Ahram Weekly
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Egypt
12/12/2023 11:30:33 PM
The decision to allow the sale of real estate in foreign currencies is contributing to Egypt’s dollar crunch, according to industry experts, reports Safeya Mounir
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Business
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Markets & Companies
12/7/2023 4:10:48 PM
French energy technology company Schneider Electric signed a memorandum of understanding (MoU) with Egyptian real estate developer LMD to deploy sustainable solutions across properties in Egypt and the UAE, read a press release by Schneider on Thursday.
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Business
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Economy
12/3/2023 6:49:51 PM
The Egyptian government is currently reviewing partnership offers worth EGP 8 billion ($258 million) from investors in the real estate sector, Mahmoud Esmat, Minister of Public Business Sector, said on Sunday.
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Business
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Economy
12/3/2023 2:22:32 PM
The services sector was the top recipient of foreign direct investments (FDI) in Egypt during the fiscal year (FY) 2022/2023, recording $5.94 billion, or 59.16 percent of that year’s total FDI, according to the External Position report released by the Central Bank of Egypt (CBE).
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Business
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Economy
11/30/2023 6:29:06 PM
The Egyptian government is wrapping up an initiative to sell real estate units in foreign currency to foreigners and expats to boost real estate exports and secure more hard currency amid a severe shortage in the US dollar supply.
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Business
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Economy
11/24/2023 11:09:25 AM
Egypt is considering selling real estate units in US dollars to foreigners and expatriates in a collaborative initiative with the private sector, according to a Cabinet statement released on Thursday.
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Al-Ahram Weekly
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Economy
11/21/2023 9:17:45 PM
The real estate market’s upward trajectory shows no signs of abating anytime soon, experts tell Ahmed Abdel-Hafez
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Business
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Economy
11/20/2023 7:29:55 PM
The Saudi Al-Lami Holding Group unveiled its plans to make a substantial investment of $500 million in Egypt over the next two years, targeting the flourishing tourism and real estate sectors, Mohamed Talaat Al-Lami, head of the group, said on Monday.
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Business
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Markets & Companies
11/19/2023 12:59:52 PM
Beltone Financial Holding, a large Cairo-listed investment company, announced that its wholly-owned subsidiary Beltone Real Estate Finance has obtained a license to practice real estate financing activity from the Egyptian Financial Regulatory Authority (FRA), according to the company's statement on Sunday.
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Business
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Markets & Companies
11/12/2023 4:55:50 PM
Egypt’s Administrative Capital for Urban Development Company (ACUD) is poised to announce the winner of the bid for the planning of the second phase of the new capital within the next month, Chairman Khaled Abbas stated on Sunday.
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