Egypt -  Real Estate Egyptian Consortium (AREH) announced that shareholder Ali Mahmoud Abel Latif Mahgoub purchased 4.405 million shares in the company, raising his stake to 5.96% from 4.85%, according to a filing to the Egyptian Exchange (EGX).

The shares’ purchase transaction has been implemented at a total value of EGP 23.94 million, equivalent to an average price of EGP 5.43 per share.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector.

The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.

 

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