ArabFinance: Bonyan for Development and Trade, a subsidiary of the private equity firm Compass Capital, acquired six grade A office buildings in East Cairo, according to a press release.

The total build-up area (BUA) of the acquired buildings amounts to 74,227 square meters (sqm), with a gross leasable area (GLA) of 47,450 sqm, the release revealed.

The new deal increases Bonyan’s total GLA to 95,000 sqm and marks its first significant acquisition of a fully leased grade A office space, with tenants including multinationals and large Egyptian corporations.

Moreover, the latest transaction adds commercial office buildings in East Cairo to the retail assets owned by Bonyan in West Cairo, bringing the total value of its portfolio to EGP 5.5 billion.

It is noteworthy that Bonyan was acquired by Compass Capital in July 2018.

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