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Arab Finance: Bonyan for Development and Trade signed a new lease agreement for Building 106B, which will be fully leased to Kortech, a subsidiary of Hassan Allam Group, according to a press release.
Located on the Ramsis Street Extension in Nasr City, Kortech will lease the entire area of 4,297 square meters, with the lease scheduled to commence in May 2026, following the expiry of B.Tech’s lease in April 2026.
The transaction aligns with Bonyan’s strategy to actively manage its portfolio, enhance asset value, and materially grow recurring rental income.
Moreover, the five-year agreement boosts cash flow visibility and further strengthens the earnings quality of Bonyan’s income-generating portfolio.
The new lease is also part of Bonyan’s broader strategy to reprice 15,176 square meters of EGP-denominated contracts scheduled for renewal in 2026, representing approximately 42% of the company’s EGP office rental revenue.
Commenting on the deal, CEO of Bonyan Tarek Abdelrahman said: “Securing a high-quality tenant such as Kortech, part of the Hassan Allam Group, underscores our ability to drive rental growth and enhance long-term cash flow visibility. This transaction further reinforces Bonyan’s position as a leading platform for premium income-generating commercial real estate in Egypt.”
Bonyan recently leased Building A5 to Nestlé Egypt, a globally renowned fast-moving consumer goods (FMCG) multinational.
