Latest news with #NAC
Daily News Egypt
a day ago
- Business
- Daily News Egypt
New Capital's R8 Phase 2 set to generate EGP 150bn in sales from 16,000 units: Etqan
Etqan Financial and Commercial Consultancy has released its latest market study on residential real estate in the New Administrative Capital (NAC), coinciding with the launch of Phase 2 land plots in the R8 district — one of the city's most prominent and in-demand residential zones. The study identifies R8 as a key hotspot for real estate investment over the past two years, citing strong demand from developers and investors. This is largely attributed to the area's modern infrastructure, strategic location, and diverse real estate offerings. Developed predominantly by the private sector during NAC's first phase, R8 is strategically located near the Government District and the iconic Green River. The district spans over 2,500 feddans and includes 28 large-scale residential projects designed to house up to 450,000 people. Its layout features 1,620 residential buildings, 880 feddans allocated for services and facilities, and 35 feddans of green spaces. According to Etqan's findings, the total number of sold units in R8 currently stands at 18,700 — roughly 34.5% of the total projected inventory of 54,200 units. Approximately 10,000 units remain available. However, the area is primarily dominated by apartment buildings, with no villa-only developments. This homogeneity is partly due to the repurposing of the La Verde Cassette hotel into residential apartments, the study noted. Construction progress in R8 lags behind other districts, posing a concern for potential investors. Of the 28 projects, 12 are still in early construction stages (0–30% complete), four are between 30–60%, and another 12 have reached 60–90%. On average, construction progress across the district is at 44%. The disparity in progress is attributed to the staggered launch dates of various projects within R8. Hotel-serviced units are limited, with only four projects currently offering such options. These units are fully finished and eligible for conversion into hotel apartments. Bassem El Sherbiny, CEO of Etqan, said the study aims to guide both policymakers and developers by providing data-driven insights into market dynamics. He confirmed that the Administrative Capital for Urban Development (ACUD) has launched a new phase of R8 land plots, offering 16 parcels ranging in size from 14 to 60 feddans. 'R8 continues to be one of the NAC's most dynamic and attractive investment destinations,' El Sherbiny said. 'Only 50% of the district's total land area has been developed so far, while the remaining half represents untapped potential — with 28.5% now entering the market. This marks a golden window for forward-thinking developers.' Over the past two years, more than seven new residential projects have been introduced in R8, reflecting rising investor confidence and heightened demand. El Sherbiny highlighted that property values in R8 have skyrocketed — from just EGP 6,000 per sqm in 2016 to more than EGP 45,500 per sqm in 2025. 'This sharp increase — up from EGP 40,000 in 2024 — underscores robust demand and significant investment returns,' he said. Ahmed Abdel Aziz, Executive Partner and Financial Consultant at Etqan, added that Phase 2 of R8 is expected to bring approximately 16,000 new residential units to the market, generating projected sales of EGP 150bn. He also pointed out that the NAC's residential market has outpaced both New Cairo and West Cairo in terms of price growth — with property values increasing nearly 30% more — and exceeding national inflation rates by 160% between 2016 and 2024. El Sherbiny concluded by emphasizing Etqan's broader role beyond research. 'Our mission is to equip our clients with actionable strategies. Etqan has already supported residential sales exceeding EGP 16bn in the NAC,' he said.
Yahoo
5 days ago
- Business
- Yahoo
FLUENT Corp (CNTMF) Q1 2025 Earnings Call Highlights: Revenue Growth Amid Market Challenges
Release Date: May 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue increased by 5.9% year over year to $26.8 million, despite challenges in the core Florida market. The company's cash position improved significantly, rising to $30.7 million from $8.5 million a year ago, providing strong financial flexibility. Completion of the Rosa cultivation facility in Tampa, with the first harvest expected in August 2025, indicating operational progress. Launch of two new whole flower brands, NAC and Bago, reflecting product diversification and refinement of quality standards. Significant operational improvements in New York, including cost reductions and increased output at the Chestertown facility. The Florida market experienced revenue decline, with sales dropping from $21.1 million to $19.2 million year over year. Adjusted gross profit margin decreased slightly from 48.6% to 46.8%, indicating pressure on profitability. Cash flow used in operations was $1.5 million, a decline from $4.1 million generated in the same period last year. The company faces ongoing challenges with price compression and market saturation in its core Florida market. Regulatory and macroeconomic uncertainties persist, impacting the company's ability to predict future market conditions. Warning! GuruFocus has detected 6 Warning Signs with CNTMF. Q: Can you provide an overview of Fluent Corp's financial performance for the first quarter of 2025? A: Robert Beasley, CEO, reported that the company's revenue for Q1 2025 was $26.8 million, marking a 5.9% increase year over year. Adjusted EBITDA was $3.5 million, reflecting investments in New York and market challenges in Florida. The cash position improved significantly to $30.7 million, up from $8.5 million the previous year. Q: What are the operational highlights for Fluent Corp in Florida? A: Robert Beasley, CEO, mentioned the completion of the Rosa cultivation facility in Tampa, with the first harvest expected in August 2025. The North Miami Beach dispensary was relocated to Aventura to enhance patient experience and profitability. Two new whole flower brands, NAC and Bago, were launched, along with a single-serve edible product. Q: How is Fluent Corp progressing in New York? A: Robert Beasley, CEO, highlighted improvements at the Chestertown facility, including cost reductions and increased output. The Buffalo cultivation facility is nearing completion, with the first harvest anticipated by Q4 2025. The NAC product line was expanded to include pre-rolls, with infused pre-rolls expected soon. Q: What are the developments in Texas and Pennsylvania for Fluent Corp? A: Robert Beasley, CEO, stated that the company is monitoring House Bill 46 in Texas and is ready for expansion. The Houston Education and Pickup Center is expected to open in Q3 2025. In Pennsylvania, Fluent Corp is tracking legislative developments for adult use legislation and is looking for growth opportunities. Q: Can you summarize the financial highlights presented by the CFO? A: Patricia Fonseca, CFO, reported total revenue of $26.7 million for the quarter, up from $25.2 million the previous year. Adjusted gross profit was $12.5 million, representing 46.8% of revenue. Cash flow used in operations was $1.5 million, with the company holding $3.7 million in cash and cash equivalents as of March 31, 2025. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
USA Today
22-05-2025
- Sport
- USA Today
UFC rebooks Rodolfo Bellato vs. Paul Craig days after last-second cancellation
UFC rebooks Rodolfo Bellato vs. Paul Craig days after last-second cancellation Days after it was unexpectedly canceled, Rodolfo Bellato vs. Paul Craig is back on the UFC books. The bout has been rescheduled for UFC on ESPN 69 in Atlanta, which takes place June 14 at State Farm Arena. The bout was scheduled as the co-main event at the UFC Apex in Las Vegas. Craig (17-9-1 MMA, 9-9-1 UFC) first reported the rescheduling date Thursday on "Leather'd Podcast", and it was confirmed by Bellato (12-2-1 MMA, 1-0-1 UFC) on social media thereafter. Minutes before the scheduled walkouts at UFC Fight Night 256 on Saturday, Bellato was pulled from his fight vs. Craig by the Nevada Athletic Commission (NAC) due to visible herpes on his face. Bellato is aligned for the highest-profile bout of his career vs. Craig , who aims to snap a three-fight losing skid. With the addition, the UFC on ESPN 69 lineup includes:
Express Tribune
21-05-2025
- Business
- Express Tribune
Economy posts surprise growth of 2.7%
Development of SMEs, youth entrepreneurship, and rigorous economic diplomacy would be vital for the quick revival of the economy, regional expert Dr Mehmoodul Hassan Khan said. photo: file Listen to article The government on Tuesday claimed that the economy grew by 2.7% in the current fiscal year, driven by an unexpected 4.8% growth in the industrial sector — despite earlier concerns over contractionary policies and the high cost of doing business. Throughout the year, the government had reported a decline in electricity generation. However, it now claims a 39.3% increase in gross value addition in the electricity sector. Similarly, the construction sector, previously struggling due to high taxation and low demand, was reported to have grown by 6.6%. On the other hand, major crops saw a drop in output: wheat production declined by 9%, rice by 1.4% and cotton by a significant 31%. Despite the surprising growth claim, the 2.7% GDP increase is nearly equal to the population growth rate of 2.6%, suggesting that poverty and unemployment may have worsened. Moreover, the government missed even its modest growth target of 3.6%. The 113th meeting of the National Accounts Committee approved the provisional GDP growth rate of 2.68% for fiscal year 2024-25, stated the Ministry of Planning after the meeting. Planning Secretary Awais Manzur Sumra chaired the NAC meeting. Finance Minister Muhammad Aurangzeb would officially launch the economic growth figure on June 1. The planning ministry further said that the NAC approved the provisional growth rates in agriculture, industry and services sector. It said that the agriculture sector grew marginally at 0.6%, but the industrial sector grew 4.8% and the services sector by 2.9%. The 2.7% growth rate can only be attained, if Pakistan's economy grows at a pace of 5.3% in the April-June quarter of this fiscal year, said an official on the condition of anonymity. The economic growth in the third quarter was 2.4%. The per capita income is now claimed to have increased to $1,824 and the size of the economy in dollar terms is $411 billion, said the Ministry of Planning. It said that on the basis of the latest figures of the national accounts aggregates for FY 2024-25, the overall size of the economy stands at Rs114.7 trillion or $410.96 billion as compared to $371.7 billion last year. It underlined that the series of per capita income from 2016-17 onwards will be revised after the receipt of backward and forward projections of population from the sources on the basis of the 2023 Population Census. Agriculture sector The NAC approved that important crops have declined by 13.5% due to a decrease in the production of wheat from 31.8 million metric tons to 29 million tons. The claim of 29 million tons wheat production was far higher than the Ministry of Finance's own projections of around 26 million tons expected production this year. The Planning Ministry said that the production of maize decreased by 15.4% to 8.24 million tons, rice output fell 1.4% to 9.7 million tons and sugarcane output decreased 4% to 84.24 million tons. The cotton crop sustained a major hit with a 31% dip in production. The cotton bales decreased from 10.22 million bales to 7.1 million bales. But the Planning Ministry claimed that despite a 17% reduction in the production of grams, other crops have posted a provisional growth of 4.8% due to double-digit growth in the production of potato, onion, mango and sesame. While cotton ginning & miscellaneous components have declined by 19%, livestock, forestry and fishing have posted provisional growth rates of 4.72%, 3.03% and 1.42%, it added. Industrial growth The Planning Ministry claimed that in this fiscal year, "industry has shown a growth of 4.77% provisionally". Despite an increase in the production of coal (2.84%), the mining & quarrying industry contracted by 3.4% because of a decrease in production of natural gas by 7.05%), crude oil output decreased by 14.7%. The planning ministry said that large scale manufacturing also witnessed a negative growth of 1.53%, with mixed trend in the production of various groups. "Electricity, gas and water supply industry has shown a positive growth of 28.9% primarily due to low base effect of FY 2023-24, i.e., -19.86% as well as increase in output of WAPDA & companies", claimed the Planning Ministry. Construction industry increased by 6.61% due to increase in construction-related expenditures by the private sector and general government, it added. The growth in the construction sector is based on the claim that the government will spend Rs1.1 trillion on development in this fiscal year, which is untrue. Likewise, the electricity growth claim is based on the assumption that Rs1.2 trillion power subsidies will be utilized in this fiscal year. Services Sector The planning ministry said that the services sector has also shown a growth of 2.91% in 2024-25 with positive contributions from all the constituents. Wholesale and retail trade has witnessed a modest growth of 0.14% because of slower output growth in agriculture and manufacturing. Transport and storage industry has increased by 2.2% because of an increase in output of water, air and road transport, it added. Information & Communication has grown by 6.5% due to increase in output of computer programming and consultancy activities 24%). Slower rate of inflation and low base effect has resulted into positive growth rates in Finance & Insurance and Public Administration and Social Security industries at 3.22% and 9.92% respectively, it added, Further, both Education and Human health and Social Work industries have posted positive growth of 4.43% and 3.71% respectively, said the planning ministry.
Business Recorder
20-05-2025
- Business
- Business Recorder
Pakistan's GDP grows 2.4% in Jan-Mar: NAC
Pakistan has posted a gross domestic product (GDP) growth of 2.4% in the third quarter (January-March) of fiscal year 2024-25, estimates released by the Pakistan Bureau of Statistics (PBS) on Tuesday showed. This comes despite the contraction in industry (-1.14%) during the said period, read a press release issued by the PBS after the National Accounts Committee (NAC) 113th meeting. Meanwhile, agriculture and services posted a growth of 1.18% and 3.99%, respectively. 'In agriculture, although important crops have declined by -11.14% but other crops have grown by 4.84% on account of double-digit growth in the production of onion (11%) and mango (26%). Livestock (4.42%), forestry (4.25%) and fishing (0.50%) have also registered positive growth rates during Q3 FY2024- 25. 'The negative growth rate in industry (-1.14%) during Q3 FY2024- 25 is due to mining & quarrying (-3.96%), large-scale manufacturing (-0.89%), electricity, gas and water supply (-7.72%) and construction (-9.12%). 'The overall growth in services is 3.99% during Q3 2024-25 with all the constituents contributing positively i.e. wholesale & retail trade (+1.57%), transportation & storage (+0.67%), information and communication (+18.44%), finance & insurance activities (+10.65%), public administration and social security (+13.73%) education (+4.63%), health & social work (5.06%) and other private services (+2.93%),' said PBS press release. Further, the NAC committee approved the updated growth of GDP during the first and second quarters of FY2023- 24 at 1.37% and 1.53%, respectively, as compared to 1.34% and 1.73% estimated previously. The committee also approved the provisional growth of GDP at 2.68% during the ongoing FY 2024-25. This is lower than the target of 3.6% set by the government. The provisional growth rates in agriculture, industry and services are 0.56%, 4.77% and 2.91%, respectively. The committee approved the overall final growth of annual GDP during FY 2022-23 at -0.21%, which was estimated at -0.22% in the 111th meeting. Size of economy As per NAC, on the basis of the latest figures of the national accounts aggregates for FY2024- 25, the overall size of Pakistan's economy stands at Rs114.7 trillion, i.e. $410.96 billion, as compared to Rs105.1 trillion, i.e. $371.66 billion. Further, per capita income in Rupees is 509,174/- i.e. $1,824, NAC data showed.
