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Heliopolis Company for Housing & Development targets building 1,036 houses in FY2017-18 and generating sales of EGP 1.2 bn, according to an EGX filing. The company will also be offering 193 feddans in the new administrative capital for commercial and residential development projects on a partnership basis. We noted in yesterday's issue Heliopolis Housing is […]
Author Archives: enterpriseam admin
Posted inReal Estate + Housing
Al Bustan delivering units in the North Coast
Real estate firm Al Bustan has started delivering units in its EGP 150 mn project on the North Coast, Al Mal reports. The first phase of the project, which includes nine residential buildings, will be delivered this year. The second and third will be delivered 2018 and 2020, respectively. The company has already completed a […]
Posted inReal Estate + Housing
Abraj Misr launches the shore
Abraj Misr has launched the latest EGP 200 mn phase in its EGP 2 bn “The Shore” development in the North Coast project, Al Borsa reports. The new phase is made up of 120 homes.
Posted inAutomotive + Transportation
30% drop in auto imports in 1H17
Auto imports dropped 30% in 1H17, Customs Authority head Magdi Abdel Aziz tells Al Mal. Auto importers have significantly reduced volumes on the back of weak demand and soaring prices. Despite the drop the Customs Authority hopes to increase its take from car imports to EGP 8 bn in FY2017-18, from EGP 6 bn in […]
Posted inAutomotive + Transportation
CBE pays back dues to six foreign airlines
The CBE provided repayment for United Airlines, Air Canada, Turkey’s Pegasus, Gulf Air, Jazeera Airways, and India’s Jet Airways, travel agency Imperial Travel Centre GM for sales Mahmoud Hammam tells Al Mal. Hammam did not provide a total figure, but said airlines that were owed amounts between USD 3-5 mn received them in one go, […]
Posted inOther Business News of Note
US TDA contracting Intratech to help decide on funding of projects in Egypt
The US Trade and Development Agency is contracting Intratech Inc for almost USD 83k “to help it decide whether the agency should fund certain pilot projects, technical assistance or other activities in Egypt,” according to The Hill.
Posted inEgypt Politics + Economics
New criteria for pensions recipients to come into effect as of 1 August
The Social Solidarity Ministry committee tasked with fine-tuning the welfare system has finished outlining new criteria and guidelines for pension beneficiaries, unnamed government officials tell Al Borsa. The guidelines, which would see whole families instead of only bread earners listed on the system, will come into effect in August now that the committee has also […]
Posted inEgypt Politics + Economics
Council of State judge bypassed by El Sisi files formal petition against president’s decision
Council of State Judge Yehia El Dakroury filed a formal petition to President Abdel Fattah El Sisi on Monday objecting to the fact that he had been bypassed as a nominee for the judicial body’s top post, Al Shorouk reports. El Sisi appointed Ahmed Aboul Azm as the head of Maglis Al Dawla (Council of […]
Posted inEgypt Politics + Economics
Government officially denies reports that Warraq demolitions were for a resort
The government has officially denied that the El Warraq neighborhood was being cleared to make way for a tourism development project, according to a report by the Egyptian cabinet’s Information and Decision Support Center (IDSC) on Monday picked up by Ahram Online. The IDSC laid the official line the move was part of the campaign […]
Posted inEgypt Politics + Economics
Authorities block 127 news websites
Egyptian Authorities have reportedly blocked 127 news websites so far, according to the latest tally from the Association of Freedom of Thought and Expression.