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Arabia Investments, Development and Financial Investment Holding Company (AIND) is seeking permits to build a new brick and concrete blocks factory in Dabaa, according to a EGX filing (pdf). The project will cater to demand from ongoing development in the area. AIND is also working on adding a new production line to its Abo Rawash […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
TMG subsidiary looks to purchase 1,000-feddan plot in new administrative capital
The Arab Company for Projects and Urban Development, a Talaat Moustafa Group subsidiary, is in talks with the New Administrative Capital Company to acquire 1,000 feddans of land in the new capital, an unnamed source tells Al Shorouk.
Posted inReal Estate + Housing
Heliopolis Housing and Development taps Banque Misr, Sarwa to advise on EGP 500 mn securitization
Heliopolis for Housing and Development selected Banque Misr and Sarwa Capital to advise on it planned EGP 500 mn securitization of its real estate portfolio, the company said in a bourse statement on Sunday (pdf).
Posted inReal Estate + Housing
Housing Ministry, Maspero residents to sign compensation agreements by month’s end
The Housing Ministry has reached an agreement with Maspero Triangle residents on the monetary compensation they will receive for their homes and the two sides will sign the compensation contracts by month’s end, Informal Settlement Development Fund Executive Manager Khaled Seddik tells Al Borsa. The move came after Housing Minister Moustafa Madbouly threatened them last […]
Posted inTourism
Air Cairo to run five weekly flights between Belgrade and Hurghada by May
Air Cairo will run two weekly flights between Belgrade and Hurghada starting mid-April and increase that to five weekly flights as of mid-May, according to Al Shorouk. The new flights aim to cater to increased tourist demand from Serbia.
Posted inTourism
Tourism Ministry to lift and reduce fines for 60 tourism companies
The Tourism Ministry has decided to lift and reduce fines imposed on 60 tourism companies and is considering grievances from 100 others, Youm 7 reports. This comes a day after the ministry decided to set a cap of 500k visas for Egyptians and impose a fee of SAR 2-3k on travelers who have recently performed […]
Posted inBanking + Finance
Catalyst Partners receives FRA approval to begin leasing services
Catalyst Partners plans to launch leasing services this week after having received approval from the Financial Regulatory Authority (FRA), Managing Partner Aly El Tahry tells Al Mal.
Posted inOther Business News of Note
New Administrative Capital Company receives US offer to establish open-air park
The New Administrative Capital Company for Urban Development (NACCUD) received last week an offer from an unnamed US company to establish an open-air park over 1,500 feddans in the new capital, NACCUD spokesman Khaled El Hosseini, Al Shorouk reports. The US company will assess the available land before beginning negotiations with NACC, according to El […]
Posted inOther Business News of Note
Abulghar establishes Great Lab after exit from Cairo Labs
Mohsen Abulghar is reportedly in the process of founding a new clinical laboratory company after he sold his stake in Cairo Labs Group to Saudi Arabia’s Elaj last year in EGP 36 mn transaction. Abulghar is using a portion of the proceeds from the sale to launch the new Great Lab and has already set […]
Posted inOther Business News of Note
Porto Group applies for EGP 100 mn capital increase
Porto Group has submitted a request to the Financial Regulatory Authority to increase its issued capital by EGP 100 mn to EGP 601.0 mn from EGP 501.5 mn, according to an EGX disclosure (pdf).