• Wednesday, 20 November 2019

    Arabtec Construction tapped to construct Emaar Misr project on Egypt’s north coast

    Emaar Misr has awarded a AED 366 mn contract to Arabtec Construction to construct several residential units in the Greek Village, one of the areas in Emaar’s Marassi compound on Egypt’s north coast, Arabtec said in a DFM disclosure (pdf)....
  • Wednesday, 6 November 2019

    Earnings watch: CIRA, Emaar Misr, Americana Egypt report results

    EARNINGS WATCH- Cairo for Real Estate and Investment’s (CIRA) net profit soared 75% y-o-y to EGP 221.1 mn in its fiscal year, which ended on 31 August 2019, according to the company’s earnings release (pdf). Revenues rose 36% y-o-y during...
  • Sunday, 3 November 2019

    Aramco’s IPO is moving forward, as MbS gives it the green light

    IPO WATCH- Aramco’s IPO is moving forward as MbS appears to accept valuation of less than USD 2 tn: Saudi Crown Prince Mohammed bin Salmangave on Friday the go-ahead for Aramco’s long-awaited IPO and an official announcement is expected as...
  • Wednesday, 23 October 2019

    HHD is still accepting bids for 10% stake + management -Tawfik

    PRIVATIZATION WATCH- HHD is still accepting bids for 10% stake + management rights, Tawfik says: State-owned Heliopolis Housing and Development (HHD) has not closed the window for private investors to submit bids to acquire a 10% stake with management rights,...
  • Thursday, 17 October 2019

    Shalakany acted as sole counsel to Emaar Misr in settlement with Egypt’s El Nasr

    Shalakany Law Firm acted as sole legal counsel to Emaar Misr in its longstanding dispute with state-owned El Nasr Housing, which culminated in an agreement that will see Emaar pay a USD 100 mn cash settlement, the firm said (pdf)....
  • Wednesday, 16 October 2019

    HDD receives three bids in sale of 10% stake, management rights

    Three bidders for 10% stake + management rights to Heliopolis Housing and Development. Three unnamed companies have submitted bids to acquire a 10% stake in state-owned Heliopolis Housing and Development (HHD) in the company before the Monday deadline, an unnamed...
  • Monday, 7 October 2019

    Egypt and UAE’s Emaar finally settle their Uptown Cairo beef

    DISPUTE WATCH- Egypt and UAE’s Emaar have finally settled their beef over Uptown Cairo: Property developer Emaar Misr has signed a final settlement with the Egyptian government to resolve a two-year dispute with state-owned El Nasr Housing over the Emirati...
  • Thursday, 3 October 2019

    Legal proceedings between Emaar and El Nasr suspended for another 4 weeks

    DISPUTE WATCH- Emaar-El Nasr legal proceedings suspended for another four weeks: A freeze on legal proceedings between property developer Emaar Misr and state-owned El Nasr Housing has been suspended for another four weeks “with the purpose of reaching a settlement,”...
  • Monday, 9 September 2019

    Emaar Misr nears resolution on El Nasr dispute

    DISPUTE WATCH- Egypt and UAE’s Emaar sign preliminary settlement agreement on El Nasr dispute: Property developer Emaar Misr has signed a preliminary agreement with the Egyptian government on a proposed settlement to resolve a dispute with state-owned El Nasr Housing...

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