FORBES: TALAT MOUSTAFA HOLDING GROUP ONE OF THE TOP EGYPTIAN REAL ESTATE COMPANIES

FORBES: TALAT MOUSTAFA HOLDING GROUP ONE OF THE TOP EGYPTIAN REAL ESTATE COMPANIES

by | Dec 13, 2021 | News Station

Talaat Moustafa Holding Group one of the top Egyptian companies among the Forbes global list of the 50 most powerful real estate companies in the Middle East and North Africa 2021
Talaat Moustafa Holding Group also exceeded its previous sales record by more than 27.5 billion pounds during the first nine months of 2021, raising its sales forecast to 30 billion pounds for the fiscal year 2021.
The holding company owns 74 million square metres of land and will have $8 billion in assets at the end of June 2021. More than 120,000 real estate units have been established by the company. Its most recent project, “Noor,” includes approximately 120,000 housing units, a 5-star hotel, and non-residential facilities. While the group recorded a net profit of $26.8 million in the second quarter of 2021, a 39 percent increase from the same period last year’s net profit of $19.3 million.
Talaat Moustafa was ranked tenth on the Forbes list, while Palm Hills Real Estate Development Company came in the 21st place, Meamar Al-Morshedy Company in the 24th place, and the Sixth of October Development and Investment Company (SODIC) in the 36th place.
Great job and a thankful effort, Talaat Mustafa, and always from success to success.
EZZ STEEL OFFICIALLY SETTLES THE “ABO HASHIMA” DEAL, WORTH 2.5 BILLION POUNDS

EZZ STEEL OFFICIALLY SETTLES THE “ABO HASHIMA” DEAL, WORTH 2.5 BILLION POUNDS

by | Dec 13, 2021 | News Station

Ezz Steel officially settles the “Abu Hashima” deal, worth 2.5 billion pounds
According to a statement sent to the Egyptian Stock Exchange by Ezz Steel, More Egypt for Financial Consultations prepared the Egyptian Steel fair value report.
According to a summary of the fair value report sent to the Stock Exchange on Sunday, the deal aims to buy 18 percent of Abu Hashima’s stake in Egyptian Steel, and Abu Hashima is currently acquiring 30 percent of the shares.
This stake will also be transferred through Ahmed Abu Hashima (founding partner) and Abu Hashima Steel Company for Steel Projects Management, according to the report.
Ezz Steel has stated that it will purchase this stake through its subsidiary Ezz Dekheila Steel – Alexandria and that the value of the transaction will be paid with company funds.
Ezz Steel Company announced that its exports to other countries have increased at an unprecedented rate, surpassing the value of one billion dollars.
During the first nine months of the current year ending September 2021, The statement showed that the company recorded exports worth 1.013 billion dollars during the period from January to September, while the exports of the first half amounted to 597 million dollars, while the exports of the third quarter (June-September) amounted to 416 million dollars.
great deal with Ezz Steel, which will have a positive impact on Egypt’s steel market.
SHALAKANY SUCCESSFULLY REPRESENTS THE SELLING SHAREHOLDERS OF ABUK IN A MULTI-MILLION-DOLLAR SALE

SHALAKANY SUCCESSFULLY REPRESENTS THE SELLING SHAREHOLDERS OF ABUK IN A MULTI-MILLION-DOLLAR SALE

by | Dec 12, 2021 | News Station

Shalakany successfully represented the National Investment Bank, the Industrial Development Authority, Al-Ahly Capital Holding Company, and the Chemical Industries Holding Company in the sale of approximately 10% of the shares of Abu Qir Fertilizers and Chemical Industries Company.
The multimillion-dollar sale is part of the government’s programme to list certain state-owned companies’ shares on local and international stock exchanges.
Their Partner Omar Sherif Kamal El Dine led the Shalakany team that worked on the transaction, which also included Omneya Abouhabaga and Rokaya Ghoneim.
“This transaction has been years in the making and we are very proud to have finally seen it through.” Said Omar Sherif
ACCORDING TO THE INTERNATIONAL MONETARY FUND, EGYPT’S ECONOMY WILL BE THE SECOND-LARGEST ARAB AND AFRICAN ECONOMY BY 2022

ACCORDING TO THE INTERNATIONAL MONETARY FUND, EGYPT’S ECONOMY WILL BE THE SECOND-LARGEST ARAB AND AFRICAN ECONOMY BY 2022

by | Dec 12, 2021 | News Station

According to the International Monetary Fund, Egypt’s economy will be the second-largest Arab and African economy by 2022.
Egypt’s Information and Decision Support Center (IDSC) published on Tuesday7/12/2021 a report that included infographics highlighting the expectations of the International Monetary Fund (IMF) that the Egyptian economy will become the second-largest Arab and African economy during 2022, in a new international testimony to the continuation of the march of economic achievements.
THE SOVEREIGN OF EGYPT ATTRACTS THE AMERICAN ALLIANCE IN THE DEVELOPMENT AND REHABILITATE OF TAHRIR COMPLEX PROJECT, LED BY ADSERO AND ALLIANCE LAW FIRM

THE SOVEREIGN OF EGYPT ATTRACTS THE AMERICAN ALLIANCE IN THE DEVELOPMENT AND REHABILITATE OF TAHRIR COMPLEX PROJECT, LED BY ADSERO AND ALLIANCE LAW FIRM

by | Dec 12, 2021 | News Station

Dr. Hala Al-Saeed, Minister of Planning and Economic Development, mentioned that the Sovereign Fund was successful in attracting an investor: The American alliance that enters the Egyptian market for the first time, which is the American alliance, which includes the “Global Ventures” group, the “Oxford Capital Group,” and the “Al-Otaiba Investment Company,” through the process of developing the Tahrir Complex. Following a tender process aimed at attract developers and partners from all over the world who are specialize in the rehabilitation and development of historical buildings, they were liquidated into three alliances, with the American alliance winning the best technical and financial offer, as well as the alliance’s rich precedent for developing a group of historical buildings in America and Europe.
Al-Saeed goes on to explain that the agreement signed with the winning coalition to develop and rehabilitate the Tahrir Complex includes a 3.5 billion pound (three billion and five hundred million pound) investment within two years of the contracting company receiving the building.
She went on to say that the importance of developing the Tahrir Complex stems from its historical and symbolic value to the Egyptian people, as Tahrir Square is the most famous governmental site in downtown Cairo. And the state’s development efforts in the downtown area and Khedive Cairo.
Adsero had assisted The Sovereign Fund of Egypt (TSFE) with this landmark project. And the team was led by Mohamed Abdelgawad, Founding Partner and Head of Adsero’s Corporate, Commercial and Regulatory Department.
Alliance Law Firm – Egypt (ALE) is act as the legal advisor for the winning US Consortium, to develop & repurpose the Tahrir Complex. and The team was led by Dr. Ashraf Abou Elkheir Managing Partner and
Omar Farid partner
We are proud of this successful achievement by the sovereign fund and wish them more success.
And we congratulate Adsero and Alliance on their success, as well as on being the legal assistant and legal advisor for such a great deal.
For more information, you can check Ministry of Planning, and Economic Development coverage here: