October 4th, 2019 | 0 commentsThe ordinary general meeting of the Export Development Bank of Egypt (EBE) approved a cash dividend distribution of EGP 272.8 million, or EGP 1 per share, for fiscal year 2018/2019. An amount of EGP 99.15 million will be distributed to employees as a profit share, while EGP 1.28 million will be retained, the bank said in a statement to th...
October 3rd, 2019 | 0 commentsAl Alamiya for Cooperative Insurance Company, listed on the Saudi Stock Exchange (Tadawul), announced it has signed an agreement with Panda Retail Company. Under the agreement, Al Alamiya will provide Panda Retail with general insurance services for a year as of 1 October 2019, Alamiya said in a bourse filing on Tuesday. “The contract rev...
October 2nd, 2019 | 0 commentsEgypt’s developer Mountain View is launching the co-develop project Office Park on 100 feddan this month, according to Amr Soliman, chairperson and founder of Mountain View-DMG. Soliman told Daily News Egypt that the company is targeting EGP 8bn in sales for the project which will be established over four years. Soliman elaborated that th...
October 1st, 2019 | 0 commentsSix of October Development and Investment (SODIC) announced that units at ‘The Estates’ project have been offered for sale on Saturday. The residential project, five kilometres north of SODIC West, has generated EGP 1 billion in sales on the first day of its launch, the real estate developer said in a statement to the Egyptian Exchange (E...
September 30th, 2019 | 0 commentsThe ‘O West’ residential project launched by Orascom Development Egypt has generated more than EGP 2.2 billion in sales to date, the company’s CEO Khaled Bichara told CNBC Arabia. The company is set to launch the third phase of the project in October, Bichara added. The top official noted that the company’s debt portfolio is within the sa...
September 26th, 2019 | 0 commentsArabian Food Industries Co (Domty) announced signing a medium-term loan agreement with the Commercial International Bank - Egypt (CIB). Under the deal, Domty will receive a loan of up to EGP 100 million at the average interest rate set by the Central Bank of Egypt (CBE), according to a statement to the Egyptian Exchange (EGX) on Wednesday...
September 25th, 2019 | 0 commentsTotal investments of Elaraby Group’s industrial complex in Beni Suef’s industrial zone are estimated at EGP 3.4 billion, the group’s vice-chairman Ibrahim Elaraby said. Spreading across 168,000 square metres, the industrial complex consists of twelve factories that create about 11,000 jobs, according to statement released by the Egyptian...
September 24th, 2019 | 0 commentsCity Edge Developments has launched “New Alamein Downtown” project owned by the New Urban Communities Authority (NUCA). Scheduled to be delivered in 2020, the new project will feature residential buildings including a wide range of penthouses and ground floor apartments with private gardens, in addition to commercial and lifestyle facilit...
September 23rd, 2019 | 0 commentsSix of October Development and Investment (SODIC) expects to achieve sales of EGP 150 billion during the next ten years. With investments of EGP 34 billion, the real estate developer’s projects in New Zayed are forecast to achieve sales of EGP 50 billion, according to a statement to the Egyptian Exchange (EGX) on Sunday. Earlier, SODIC la...
September 19th, 2019 | 0 commentsEgyptian Arab Land Bank (EALB) works on developing its entire infrastructure in the current period, the bank’s chairman Amr Kamal said. The lender is injecting more than EGP 1.4 billion for the development of its units in Egypt, Jordan, and Palestine, Kamal told Mubasher. EALB has finalised about 70% of the development and automation proc...
