Untitled. Slums make up 40% of Egypt's urban areas: Official. Ahram Online , Sunday 28 Jun 2015 Photograph of a Cairo slum area (Photo: Al-Ahram) The "eradication" of slums in Egypt, which make up 40 percent of its urban areas, will cost around LE250 billion according to Sherif El-Gohary, a technical support manager at the Ministry of Urban Renewal and Informal Settlements.
In an interview with Aswat Masriya website El-Gohary said that 37 percent of urban space in Egypt consists of informal settlements while "unsafe slums" are roughly 1 percent of urban areas. There are a total of 364 slum areas nationwide. "Egypt Without Slums", a 3-year plan aimed at eradicating 258 slum areas, is almost ready for launching, he added. Old Town properties snapped up by foreign buyers. Two of the country’s leading developers are working together to create exclusive, high quality beachfront apartments that are proving irresistable to overseas customers In the heart of one of the Red Sea’s most luxurious addresses – Old Town, in the Sahl Hasheesh resort community – two of Egypt’s leading companies are combining forces to launch exclusive, high-end beachfront apartments.
The project is the first collaboration between Egyptian Resorts Company (ERC) – Egypt’s leading master developer of resort communities – and Palm Hills Developments, Egypt’s premier first and second home residential and commercial developer. With a plan to be completed over the next 12-18 months, the Old Town Apartments project will include more than 130 exclusive beachfront apartments, ranging in sizes from 750 to 1,600 square feet. Indeed, Palm Hills’ reputation is more than enough reason for ERC to be celebrating. Egypt to prioritise Toshka, Minya and Western Desert in land reclamation project. Egypt to prioritise Toshka, Minya and Western Desert in land reclamation project Impoverished Upper Egypt will see the lion's share of land reclamation efforts as the government seeks to spur national development Ahram Online , Wednesday 15 Apr 2015 Women workers water plants at the Desert Development Center in the Nile Delta, September 20, (Photo: Reuters)
City Stars Properties finishes Phase I of artificial lake in South Sinai at for $278m. City Stars Properties completed Phase I of the artificial lake in its resort in Nabq, South Sinai, at a cost of $278m.
The total cost of the lake is $800m and it will be the largest artificial lake in the world with an area of 120,000 sqm, an official said. Prime Minister Ibrahim Mehleb studied the project during his inspection tour in Sharm El-Sheikh in preparation for the mid-March summit. The land area of Phase I of the project is 1m sqm of the total 7.5m sqm, according to the official, who added that this project is one of the biggest integral developmental projects in South Sinai.
The project cost exceeds EGP 3.5bn. Phase I of the project includes 1,500 housing units of the total of 20,000 rooms, as well as a 5-star hotel with a 450 room capacity. The first phase includes the artificial lake, with which Egypt will be added to the Guinness World Records, said the official. The lake is 2 km from the Gulf of Aqaba shore, according to the official.
Cairo is building a skyscraper shaped like a pyramid. In around 1790 BC, Egypt's pharaohs stopped building pyramids.
After thousands of years, the burial technique had begun to look a bit archaic (not to mention like an awful lot of work), and the trendy pharaohs of the New Kingdom were buried in tombs cut into rock faces instead. With the inevitability of terrible 80s fashion, however, pyramids seem to have come back into style. This month, the Egyptian Housing Ministry announced plans for a giant, 200m tall pyramid skyscraper in Cairo, Egypt's capital, a mere 30 minute drive from the ancient pyramids at Giza. The design has, of course, been updated: rather than stone, the building appears to be built from steel and glass. Arabtec to start building 120,000 residential units February. President Abdel Fattah Al-Sisi met with Arabtec Construction CEO Hasan Abdullah Ismaik on March 9 2014 in Cairo.
(Photo courtesy of the Egyptian Cabinet) UAE Minister of State Sultan Al-Jaber has told President Abdel Fattah Al-Sisi, during the latter’s visit to United Arab Emirates, that Arabtec’s 1m residential-unit project will commence with 120,000 units next month. Chairman of Egyptian Steel Ahmed Abo Hashima, who attended Al-Sisi’s meeting with businessmen in UAE on Sunday, told state-run Al-Ahram that UAE stressed it will fully fund the project.
Arabtec earlier announced that it will commence with the first phase of its project before the end of 2014. In March 2014, the Armed Forces, in cooperation with Arabtec, announced plans to construct 1m residential units for low-income youth on land provided by the Armed Forces. CBE to double mortgage initiative to EGP 20bn by 2015: Minister of Housing. Government delivered only 57 units from its 1m residential-unit project: EIPR study. Egypt’s government has handed over “only 57 residential units” to citizens from its “one million residential units” project.
(DNE Photo) Egypt’s government has handed over “only 57 residential units” to citizens from its “one million residential units” project, an Egyptian Initiative for Personal Rights (EIPR) study stated. The government delivered just 11% of its project target in fiscal years (FY) 2012/13 and 2013/14, according to the EIPR. The study, published on Sunday, also looked in depth into the 1m residential units project or the “social housing project” that was announced by Mubarak’s last housing minister, Ahmed Al-Maghrabi.
25% of real estate tax revenues allocated for developing informal areas: Farag. New real estate law, implemented earlier this year, should help collect the full amount by the end of the current fiscal year, which began on the 1 July.
(Photo courtesy of Palm Hills Development) By Shaimaa Elise. Egypt government to provide land for 20 new Carrefour stores. Egypt government to provide land for 20 new Carrefour stores Carrefour plans to invest about $2.3 billion in Egypt for the next few years Ahram Online, Wednesday 5 Nov 2014 Carrefour (Photo: Reuters)
Steigenberger Hotel Group expands its presence in - Industry insider. Industry insider The Steigenberger Hotel Group is set to open two new establishments in Egypt at central locations on Tahrir Square in Cairo and on Saad Zagloul Square in Alexandria.
Both hotels will offer international guests the very highest degree of comfort as well as convenient transport connections for leisure and business travellers alike. The Frankfurt-based Steigenberger Hotel Group is continuing its drive for international growth by bringing top-end German hotel facilities to two new locations in Egypt. From July 2016, the Hotel Tahrir Square in Cairo will operate under the Steigenberger name. The existing Cecil Hotel in Alexandria will be taken over immediately. The Steigenberger Hotel Tahrir Square will have a total of 295 rooms including 12 suites as well as five conference rooms and a large banqueting hall. Small-town Cairo aiming to grow into its own - North Platte Nebraska's Newspaper: State News.
Posted: Sunday, October 19, 2014 3:00 am Small-town Cairo aiming to grow into its own By Lauren Sedam World-Herald News Service nptelegraph.com | CAIRO — Located just 20 minutes down Highway 2, Cairo is close enough for a quick trip to pick something up in Grand Island. But the community of about 800 isn’t ready to settle for that. Arabtec to conclude plan for 1m home project in Egypt.
President Abdel Fattah Al-Sisi met with Arabtec Construction CEO Hasan Abdullah Ismaik on March 9 2014 in Cairo(Photo courtesy of the Egyptian Cabinet) Dubai construction company Arabtec said that it is about to conclude the planning and design stage of constructing a 1m residential units project. On 9 March, the armed forces, in cooperation with UAE’s Arabtec Construction Company, announced plans to construct 1m residential units for low-income youth on land provided by the armed forces.
The contract marks one of the largest construction initiatives in the Arab region in the past three years. The project, which was announced by President Abdel Fattah Al-Sisi, the defence minister at that time, falls under the umbrella of the “For Egyptian Youth” initiative, which Al-Sisi launched prior to announcing his intention to run for president. FEB allocates EGP 300 million to develop slums.
Central Bank Chairman Hisham Ramez - YOUM7 (Archive) By SARA OSAMA SHOUREAP CAIRO: The Federation of Egyptian Banks (FEB) allocated funding worth EGP 300 million ($42 million) to develop slums in about 15 regions throughout Egypt, said deputy chairman of FEB, Hesham Okasha Wednesday during the annual People and Banks Conference June 11-13, reported al-Masry al-Youm. During the conference, Okasha stressed the importance of the banks’ role in completing the upgrade plans of Egypt’s informal areas through supporting social organizations.
Egypt to develop US$428m tourism projects. Mountain View Sheikh zayed - 16291. Galleria Moon Valley 16291 جاليريا القاهرة الجديدة. Arabia Group investing in 1m square metre project in Sinai: Chairman. Chairman of Arabia Group Tarek Shoukry(Photo courtesy of Arabia Group) Local real estate firm Arabia Group for Development and Urban Progress plans to invest in a 1m square metre project to include a hotel and 2,000 touristic and residential units in Sinai, according to the group’s chairman, Tarek Shoukry. The company will begin work on the “huge” tourism project in mid 2015, Shoukry said, by which time he expects the political situation to have improved. So far, 80% of the project’s plans and approvals have been finalised, he added. Egypt’s real estate prices expected to increase by 15% in 2014.
50% of Egyptians ineligible to benefit from social housing programme: EIPR. The eligibility regulations to apply for a residential unit in the social housing programme prevents 50% of the lowest-income Egyptian from qualifying, the Egyptian Initiative for personal Rights (EIPR) in a report published in April. In January, the government announced several regulations that make citizens eligible to apply for owning and renting units. The regulations stated that owning an apartment requires a maximum family income of EGP 40,000 per year, around 10% of Egyptians, and a minimum income of EGP 23,040 a year. For renting a residential unit, the family’s maximum income was set at EGP 18,000 a year. According to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) 2012/2013 Income, Expenditure and Consumption report, the top 10% of Egyptians took in an average yearly income of EGP 42,789, while the minimum income of a middle class family stood at EGP 23,097.
Armed forces finalise plans to build 1m youth residential units. Aqarmap.Com Says Demand on Housing Increased by 17% in Feb. Egypt’s Political stability within the early of 2014 contributed in boosting the deferred demand for residential units over the past years, as the indexes of demand on real estate increased by 17% within last February, Amad Almsaodi, CEO of Aqarmap.com said. Prices of Egypt Housing Units Likely to Soar by 30% in 2 Years. Dubai's Arabtec appoints Egypt unit CEO to lead $40bn project - Construction. Dubai-based construction giant Arabtec Holding announced on Wednesday the appointment of Sami Asad as CEO for its newly created subsidiary Arabtec Egypt for Real Estate Development. Asad will lead the Egyptian unit which will be responsible for delivering one million homes under a $40 billion deal announced last month.
Multi-billion dollar project will not solve Egypt's housing crisis. Hotel industry investors continue investing in Egypt despite political crisis. Cairo real estate in demand despite crisis. Despite the current political situation, the Egyptian real estate market continues to attract interest from leading developers and investors from the UAE who are committed to projects in Cairo, said a report. While there are signs of stabilisation in certain sectors, the market continues to be challenged by political unrest which is impacting economic recovery critical for growth in the Cairo real estate market, stated Jones Lang LaSalle, the leading real estate expert in its review on Cairo real estate.
Commenting on the report, Ayman Sami, the head of Egypt Office at JLL said: “The Cairo real estate market still holds a strong set of long term fundamentals which cannot be ignored by stakeholders. However, the ongoing political instability is impacting overallsentiment and is leading to a slowed pace of recovery in the short to medium term. " In the office market, occupiers who had put their plans on hold are expected to start reconsidering relocation options. Project to construct one million new housing units. A Ministry of Housing plan to construct 175,000 new housing units in 25 Egyptian governorates over the coming fiscal year to combat high population density plan will be implemented over a period of 5 years, during which 850,000 new units will be constructed and an additional 150,000 slum units replaced and converted (DNE Photo) By Mohamed Darwish.
تنمية محور قناة السويس Suez Canal Corridor No investor to own Suez Canal lands. New real estate construction in 6th of October City. Finance Ministry to reassess taxes on hotels and resorts. Rixos Hotels celebrates new hotel projects in Egypt. Egyptian’’ Amer Group’’ plans to launch $ 3 billion tourism project in Taparura. Al rehab city Talaat Moustafa by www.location-egypte.com 8min.avi. TOUR OF EL REHAB CITY New Cairo. New Villas Townhouses & Duplexes for Sale Sheikh Zayed, Cairo, Egypt.
Coldwell Banker New Homes. The Allegria - Greg Norman Golf Course Design - Sheikh Zayed City - - Egypt. وزارة الاسكان تتعاقد مع شركات استثمارية صينية. العقار المصري ينمو مدفوعا بتعداد 80 مليون ساكن بالم هيلز ثاني أكبر شركات العقار في بورصة مصر العقار المصري من أكثر القطاعات جذباً للاستثمار كيف ستكون الخرطوم بالمستقبل مشروع المجران . Hilton to open second Alexandria hotel. North Coast Sawani project: 35% of land now available for sale. Commercial centres investment plans. Cairo's satellite cities house price boom amid economic uncertainty.
Panorama Bungalows Resort El Gouna 4★ Hotel Hurghada Egypt. Hoteliers build their hopes on Egypt. Cityscape: Real-estate leads Egypt's growth in the coming period. Virgin Property Real Estate and Investment Company. Alexandra housing site gets S$332m top bid. Mena For Touristic and Real Estate Development.
Cairo real estate market sees improved sentiment among on-going uncertainty. Majid Al Futtaim eyes $500 mln Egypt loan: sources.