December 19th, 2018 | 0 commentsOrascom Development Egypt on Tuesday announced the signing of an agreement with Thomas Cook Group, one of the world’s largest tour operators, to establish a new hotel and upgrade another with EGP 200 million in investments. Both firms will partner up to build a brand new hotel under the name of Casa Cook Hotel over the beach in El Gouna w...
December 18th, 2018 | 0 commentsFirst Group for Real Estate Investment is looking to implement two tourism projects in Ain Sokhna and the North Coast with total investments worth EGP 5.2 billion, the company's chairman said on Monday. An 85-acre project will be built in Ain Sokhna with around EGP 2.25 billion in investments and an estimated sales of EGP 6 billion, Bashi...
December 17th, 2018 | 0 commentsEgyptian Diarna Real Estate has posted 800 million Egyptian pounds ($44.6 million) in clients’ sales until the end of November, a senior official in the firm said on Thursday. The real estate marketing firm plans to open new offices different governorates and Sixth of October City, 38km (23.6 miles) from the centre of Cairo, projects sect...
December 14th, 2018 | 0 commentsHero Nutritional Food Industries, an Egyptian subsidiary of the Switzerland-based food manufacturer Hero Group, is looking to increase its sales in Egypt to EGP 2 billion ($111.3 million), the managing director of Hero Middle East and Africa said. The Egyptian unit aims to generate its sales target over the coming four to five years, Mahm...
December 13th, 2018 | 0 commentsB Investments Holdings announced its investments in the renewable energy field are focused on solar power plants. The Cairo-based private equity firm has invested around EGP 95 million into three solar power plants through its subsidiary, Infinity Solar, according to a statement to the Egyptian Exchange (EGX). These plants are BSEP, PHOEN...
December 12th, 2018 | 0 commentsPalm Hills Development Co’s board of directors has approved to raise the credit facility for its project “The Crown”. The facility, provided by the National Bank of Egypt (NBE) and other lenders, will be raised to EGP 1.24 billion from EGP 852 million, the Cairo-based real estate firm said in a filing to the Egyptian Exchange (EGX) on Tue...
December 11th, 2018 | 0 commentsAXA Egypt, a subsidiary of the French multinational insurance firm AXA, has indemnified around 8,000 borrowers from the Lead Foundation with EGP 21 million a year after signing the contract. The leading global insurance company provides 200,000 of those who are benefiting from the Lead Foundation’s financings with life and medical insuran...
December 10th, 2018 | 0 commentsElsewedy Electric Co’s industrial development unit has signed an EGP 10 billion contract with the General Authority for Suez Canal Economic Zone to develop a land in Ain Sohkna. The project is aimed to develop and promote the 10-kilometre land, Elsewedy said in a filing to the Egyptian Exchange (EGX) on Sunday. The project will be impleme...
December 7th, 2018 | 0 commentsHolding Company for Water and Waste Water’s (HCWW) general assembly meeting, presided over by prime minister Mostafa Madbouly, approved fiscal year 2018/2017 draft budget of the company and its subsidiaries. The estimated draft budget allocated around EGP 2.6 billion for renovation and development projects to boost the efficiency of asset...
December 6th, 2018 | 0 commentsThe commercial director of Living Yards Developments said that the company has completed selling the units of the first phase of its project in the New Administrative Capital “The Loft”. Hashem El-Kady said on Tuesday that the first phase has achieved total sales of EGP 600 million, with increased demand supported by allowing each client...
