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By Tawteer Misr Development
£
3,800,000
<p>Townhouse for sale at Mountain View North Coast</p> <p>Land area 250 Sqm</p> <p>Building ar ...
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£
2,000,000
<p>Furnished apartment for sale at Omarat El-Tatweer, New Cairo</p> <p>Apartment area 200 Sq ...
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£
15,000
<p>apartment for rent at Al-Joman compound, Sheikh Zayed City</p> <p>Apartment area 213 Sqm</p> ...
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£
5,000
<p>Luxurious sea view chalet available for rent at North Coast</p> <p>Chalet area 150 Sqm</p> ...
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£
3,000,000
<p>Luxurious apartment available for sale at The Village, New Cairo</p> <p>Apartment area 146 Sqm ...
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£
30,000
<p>Furnished Chalet for rent at Palm Beach, Ain Sokhna</p> <p>Chalet area 125 Sqm</p> <p>Consi ...
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£
17,000
<p>Prime villa available for sale at Swan Lake, North Coast</p> <p>Land area 495 Sqm</p> <p>Bu ...
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£
2,500,000
<p>Furnished chaler for sale at Little Venice, Ain Sokhna</p> <p>Chalet area 100 Sqm</p> <p>Ga ...
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£
16,500,000
<p>Luxurious villa for sale at The Fifth Settlement, New Cairo.</p> <p>Land area 560 Square meter ...
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Mountain View Ras Elhekma
Townhouse for sale at Mountain View North Coast
Land area 250 Sqm
Building ar ...
£ 3,800,000
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Furnished apartment for sale at Omarat El-Tatweer, New Cairo
Apartment area 200 Sq ...
£ 2,000,000
Read DetailsAljoman Compound
apartment for rent at Al-Joman compound, Sheikh Zayed City
Apartment area 213 Sqm
...£ 15,000
Read DetailsNorth Coast, Alamin Road
Luxurious sea view chalet available for rent at North Coast
Chalet area 150 Sqm
...£ 5,000
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Luxurious apartment available for sale at The Village, New Cairo
Apartment area 146 Sqm ...
£ 3,000,000
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Furnished Chalet for rent at Palm Beach, Ain Sokhna
Chalet area 125 Sqm
Consi ...
£ 30,000
Read DetailsNorth Coast, Alamin Road
Prime villa available for sale at Swan Lake, North Coast
Land area 495 Sqm
Bu ...
£ 17,000
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Furnished chaler for sale at Little Venice, Ain Sokhna
Chalet area 100 Sqm
Ga ...
£ 2,500,000
Read DetailsThe Fifth Settlement
Luxurious villa for sale at The Fifth Settlement, New Cairo.
Land area 560 Square meter ...
£ 16,500,000
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The Homes Real Estate Company has concluded a three-day exhibition in which 25 Egyptian real estate developers participated, receiving notable feedback and substantial demand from customers. Homes Real Estate Chairperson, Mohammed Obeid, said exhibitors showcased a variety of projects at the New Administrative Capital (NAC), the North Coast, New Mansoura and Obour City. Obeid added that the exhibition saw strong demand from clients, with a significant number of projects presented to meet the needs of a large number of customers. He noted that the exhibition took place to stimulate the real estate market and to highlight the role of demand in maintaining market sales. It was also designed to maintain the sector’s business, despite the ongoing coronavirus (COVID-19) crisis. The exhibition was an opportunity to identify the most up-to-date customer needs in terms of residential units, Obeid added. These needs are likely to have changed in the past few months, due to social distancing measures recently put in place, and more employees working from home. He affirmed that all precautionary measures were put in place during the exhibition to preserve the health and safety of all exhibitors and visitors. These measures were outlined by the government, which allowed the return of exhibitions and conferences in various sectors in Egypt following the Eid Al-Adha holiday. The participating real estate companies have successfully achieved a significant amount of their selling targets in the past period, despite the global health crisis, Obeid pointed out. As the Egyptian government allowed the resumption of exhibitions and conferences, it is expected that many companies will be able to achieve their sales targets for the year. Copied from daily news
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Egyptian Resorts Company (ERC) is finalizing studies, designs, licenses, and approvals for new distinctive real estate projects which will cater for multiple client segments, one of which is planned for the fourth quarter (4Q) of 2019. In parallel, to benefit from the ongoing growth in Egypt’s tourism industry, the company will move forward to develop new resorts over the coming five years. Several studies are currently underway on hospitality and resort management services to maximize potential revenues from this important sector. english The ERC aims to increase the value of its 3.4m sqm land bank. It will also allocate 100,000 sqm of land annually for hospitality sub-developers, while halting any residential-related land sales. With the company’s average development cycle at 3-4 years, the ERC expects the sales of undelivered contracted units executed between 2017 and 2019 to begin to have a material impact on the company’s income statement by late-2020 and grow significantly over the next four years. About real estate sales and reservations, the company’s Bay Village recorded contracted unit sales of EGP 203m, with an average selling price of EGP 20,500 per sqm, representing 55% of the project to date. Reservations amounted to EGP 33.6m. The company estimates that Bay Village will be completely delivered by 2023. With more than half of the development already sold before the second half (1H) of 2019. Bay Condos is a 2,525 sqm mixed-use development project with a total built-up area of 4,200 sqm, located in the heart of the Old Town district, Sahl Hasheesh bay. Completion of this project is also expected by 2023. Meanwhile, at Tawaya, the ERC’s strengthened effort alongside Palm Hills Development to market and sell the development’s upscale units resulted in EGP 295m in contracted unit sales, or 83% of the updated project’s targeted sales. At Jamaran, the ERC’s exclusive in-house offering of seaside villas along the Sahl Hasheesh coast, revenue from unit sales recorded EGP 14.4m in 1H 2019, up by 41% y-o-y from 1H 2018. The company expects the sale of its remaining villas to be completed by the end of 2019, with the average selling price for the seafront units at EGP 31,000 per sqm.
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Egypt’s property investment map is set to change in 2021 as some companies will be unable to continue in the market, according to Amgad Hassanein, Managing Director at the Housing and Development Real Estate Investment Company (HDRIC). During the Think Commercial Round-table 4, on Tuesday, Hassanein added that the country’s real estate market has witnessed a growth of 15%-20%. This growth comes on the back of the Egyptian government’s 2016 decision to float the local currency, and covers the period until the start of the novel coronavirus (COVID-19) pandemic. He expects the local market will continue witnessing growth in the post coronavirus period, but with a change in the map of local property market players following the global health crisis. Hassanein said, “We must know the current position of reconciliation on building violations decision and determine timing of return of developers who have licences to work on their projects again.” He said that the New Administrative Capital (NAC) is the natural alternative to expanding in Egypt and eliminating informal settlements in the country. He pointed out that Egypt has supply and demand, but faces the challenge of reconciling the two, which can be done through mortgage financing. Hassanein highlighted that property remains a safe investment haven and as a safe store of value. The problem facing the sector now, however, is the crisis in liquidity and the general citizen desire to retain it. He called for further activation under the Central Bank of Egypt (CBE) initiative providing mortgage finance for middle-income citizens. At the same time, Hassanein stressed his optimism about Egypt’s real estate market and its performance during the coming period. Meanwhile, President and CEO of Tatweer Misr, Ahmed Shalaby, said that the North Coast represents great real estate wealth that has not been optimally exploited to achieve the commensurate returns for the state. Investing in the North Coast region is problematic due to the multiplicity of state authorities regarding the lands. This, in turn, leads to long and intertwined procedures, which has led to a disruption in the huge investments that could have occurred in the region. Shalaby added that the presidential decision to transfer subordination of the North Coast area’s lands to the New Urban Communities Authority (NUCA) jurisdiction is considered as a revival of the region. With this transfer, there may be a general and integrated development for the entire region rather than the development of individual projects. Commensurately, the area will become fully functional throughout the year under NUCA’s development, rather than throughout the summer season only. Furthermore, he called for accelerated planning rates to speed up the North Coast region’s development, maximise its investment returns, and increase the investment opportunities in a promising region. Tarek Shoukry, Head of the Real Estate Development Chamber at the Federation of Egyptian Industries (FEI), said the Egyptian Competition Authority’s (ECA) statement on the existence of problems between real estate companies and customers is misunderstood. Accordingly, a meeting will be scheduled between real estate developers and the ECA to identify details of the statement, and as a mediation tool regarding any problems. Shoukry added, “The statement spoke about the existence of illegal demands made by developers on customers, but the statement did not specify the nature of these demands.” He called on the ECA to listen to developers, just as it listened to customers, in order to understand both sides of the problem. Commenting on the law of reconciliation on building violations, Shoukry said, “The law is important and has positive results on the real estate market, but there have recently been questions related to it, the most important of which is who will pay the value of the violation, whether it’s the owner of unit, resident or developer.” Shokry anticipates a boom in Egypt’s real estate market during the coming period, after the decline in sales on the back of the coronavirus crisis. CEO of First group Basheer Mostafa agreed with Shoukry on the need for reconciliation on the building violations law, noting its importance for controlling the market and eliminating violations. He added that the decision should also come in line with the approval of the draft real estate developers federation law to preserve the market’s credibility, and called for the law to be issued quickly. Mostafa added that state has decided to provide the financial facilities to encourage citizens to reconcile over violations. He also pointed out that the state insists on eliminating informal settlements, which provides an opportunity for the growth of new cities and the revival of housing in these cities. He noted that the first and second quarters of 2020 have witnessed a decline in demand for property. He added, however, that this is not normal, and is, in fact, similar to rates of market performance during the same period of previous years. Mostafa elaborated that real estate market sales are active during the summer period. He added that the coronavirus crisis has also contributed to the slowdown in demand during the first half (H2) of 2020, as the pandemic caused a rethink among customers in making purchasing decisions. Copied from daily new
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Real estate sales rate increased by about 40% in 2019 compared to 2018, according to a recent study by Inland Properties Group. The study stated that the number of projects under construction increased to about 260 projects. According to the study, Ain Sokhna city is the most attractive area for tourism and industrial investment during 2019, recording a turnout of vacationers by about 58%, compared to the North Coast, Sharm El-Sheikh, Alexandria, and Fayoum. Inland Property’s CEO, Rabab Farrag stressed that Ain Sokhna area is promising and the state’s interest in it makes it special not only at the local level, but globally. Accordingly, 2019 witnessed a 5% increase in the number of companies operating there. Farrag added that the Ain Sokhna’s importance lies in its easy promotion externally, especially in the Gulf region, which revives the export of the Egyptian real estate. She attributed the revival of Egypt’s property export to the decrease in demand for real estate investment in the region, such as Turkey, as a result of the turmoil there. In addition, the Egyptian property enjoys a competitive advantage after the depreciation of the Egyptian pound during the past five years. She stressed that Galala area in Ain Sokhna provided medical and educational services to all projects there. She also pointed out that after the complete opening of both Cairo-Ain Sokhna and El Galala roads, the city has become one of the most important sites, and the most attractive for businessmen and investors, who have established many luxury hotels and tourist resorts in that region.
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