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Egypt - Target for Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has purchased 7.16 million shares in Real Estate Egyptian Consortium (AREH) for an average price of EGP 4.36 per share, according to a filing to the Egyptian Exchange (EGX).
As a result, Target for Real Estate Investment increased its stake in Real Estate Egyptian Consortium to 12.443% from 10.65%, the filing added.
The total value of the shares’ purchase transaction amount to EGP 31.22 million.
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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