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EGP 4,000 |
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Cairo/ Heliopolis
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2 |
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2 |
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8 |
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4 |
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2007 News
April
Tamweel and Amlak preparing to penetrate the market… hot competition is excepted on mortgage finance Tamweel started to establish a company operating in accordance with the provisions of Islamic Sharia, in collaboration with the World Bank and one of the Gulf Islamic banks, which Tamweel’s officials refused to name, with a paid-in capital of 500 million pounds. Read More
300 million pounds for the real estate finance facilities from the "United Bank" The United Bank prepares to offer a new product for the real estate finance sector in an attempt to make use of the lending facilities given to this sector. Read More
Shares’ prices on the real estate sector moving upwards At the end of last week news widened about the upward trend of land prices in the auctions announced by the Ministry of Housing, which ranged between 1000 to 1500 pounds per meter. Read More
International Finance Corporation to Increase The Activity Of Financial Services In Egypt Dr. Mahmoud Mohi Eldin, Minister of Investment, stressed the need to increase and diversify the investment activity of the International Finance Corporation in Egypt, especially in the fields related to financial services, insurance and real estate financing. Read More
Mortgage Has Failed To Achieve Its Objectives Counselor Adel Abdel Baki, Minister of Cabinet Affairs and Administrative Development and former head of the Egyptian Land Bank, assured earlier that the real estate finance system has failed in Egypt so far, Read More
Modernization of the Legislation to Organize the Real Estate Market and Develop Industry Osama Saleh, head of the Mortgage Finance Authority, assured that Egypt had started harvesting positive results of the reform policies, where the national income rate during the first half 2006 / 2007 grew by 1.7% and extended in the real estate investment sector by 26%. Read More
Protocol for the Registration of Land and Construction Lands and the Elimination of All Waiver Fees The Real Estate Finance Authority held an extended meeting with the New Urban Communities Authority to discuss the protocol signed between the two parties on how to register residential units within these cities to deal with and sell them to beneficiaries under the mortgage finance law. Read More
Allocation of 3500 acres for 43 companies The total area of land allocated in the framework of the national project for housing reached 3500 acres in seven governorates. Divided amongst 43 companies, after Orascom for Hotels and Development acquired 2000 acres. Read More
No New Amendments to the Real Estate Tax Draft Law Ismail Abdul Rasul, Chairman of the Real Estate Tax Authority, denied any additional amendments to the new real estate tax draft law and assured that the reason for the delay had nothing to do with reactions towards it, but its turn in discussion not being due yet in the schedule of the parliament. Read More
"Evaluation of the Real Estate Companies" Raises Debate among Analysts and Investors A debate has been circling for the past few months in the real estate sector between financial analysts and investors on the best way to assess real estate companies. Read More
Dubai Runs Out Of Office Space as Boom Draws Firms Dubai, the Middle East’s fastest-growing city, is running out of office space, according to the commercial property broker CB Richard Ellis Group Inc. Read More
Emaar’s Real Estate Project, Burj Dubai, Sets Global Record with 120 Floors Burj Dubai, the iconic structure set to be the tallest buildings in the world, built by Emaar Properties, the largest real estate development company in the world, has set a new global record for having more floors than any building in the world. Read More
Middle East Leisure Real Estate Symposium to Take Place in Dubai The Second Annual Middle East Leisure Real Estate Symposium, being hosted by the RCI Global Vacation Network, the global leader in leisure accommodations, and NorthCourseSM Leisure Real Estate Solutions, an international leader in providing advisory, asset management and turnkey solutions and services will be held April 27-28, 2007 at the Grosvenor House Hotel in Dubai. Read More
Members of Parliament: The Real Estate Loan Agreement will Increase the Burdens on Citizens Parliament witnessed a heated discussion on the agreement concluded with the World Bank for a loan of 214 million pounds to finance real estate finance companies. Read More
Emaar Properties Buys out all Shares of Emaar Egypt The Egyptian Minister of Investment, Mahmoud Mohi El Din, announced that Emaar Properties bought out all shares of Emar Egypt on March 29th Read More
DAMAC Properties Launches 3rd Commercial Tower at Business Bay, Dubai DAMAC Properties, the largest private sector real estate developer and luxury lifestyle provider in the Middle East, has announced the launch of Executive Bay, a 19-storey commercial development in the heart of Business Bay in Dubai. The launch of Executive Bay follows the impressive success experienced by the company’s first 2 projects at Business Bay, Business Tower and XL Tower. Read More
UAE Real Estate in Danger of Losing Foreign Capital The UAE is in danger of missing out on a "tidal wave of investment" that overseas institutions pumping into global real estate, says a Dubai-based property specialist. Read More
Moody's Sees Real Estate Downturn Risk There is a risk of "short-term real estate downturn" in the UAE that could affect ratings outlook of local institutions, a Moody's official said. Read More
Property Sales Rose 22.3 Pct In Kuwait In 06 The value of property sales in Kuwait, in the midst of a construction boom like much of the Gulf region, rose by 22.3 percent to 2.7 billion dinars ($9.33 billion) in 2006, according to Kuwait Real Estate Bank (KREB). Read More
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