Kuwait's Manazel’s unit reaches deal to exchange investment in Egypt

The subsidiary will exchange its investment in Zoya, with an administrative area in One Ninety project

Staff Writer, Mubasher

August 30, 2022

PHOTO

Kuwait’s Manazel Holding announced that its indirect subsidiary in Egypt, Manazel Real Estate Developments, has reached an agreement with Landmark for Real Estate Development (LMD) to exchange its investment in Zoya project in North Coast.

The subsidiary will exchange its investment in Zoya, valued at EGP 125 million, with an administrative area in One Ninety project, situated in New Cairo’s Fifth Settlement area, according to a bourse disclosure on Tuesday.

The subsidiary’s board of directors has approved the exchange deal for the same investment value, Manazel said, adding that the transaction will not have any material effect.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.