|27 August, 2018

Kuwait’s Manazel unit in Egypt inks deal with Sabbour firm

Land Mark will be responsible for developing Layan for $12.82mln

Mubasher:Manazel Holding announced that its subsidiary in Egypt, Manazel for Real Estate Development – Egypt, has signed a contract with Land Mark Real Estate Development which is one of the companies owned to Sabbour Family.

The Kuwaiti company has inked the real estate contract to develop the service area no. (4) in Layan compound, according to a bourse statement on Monday.

Land Mark will be responsible for developing, promoting, and selling Layan project for a value of EGP 228.67 million or KWD 3.88 million ($12.82 million).

Manazel clarified that this value will be collected in installments during a three-year period.

Source: Mubasher

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