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FRA approves addition to Zahraa Maadi’s objects

FRA approves addition to Zahraa Maadi’s objects

ArabFinance: Egypt’s Financial Regulatory Authority (FRA) approved for Zahraa Maadi Investment and Development (ZMID) to add a new activity to the company’s objects, according to an October 14th disclosure to the Egyptian Exchange.

The new addition, included in amending article no. 3 of the statute, aims to create investment substitutes to boost Zahraa Maadi’s revenues, the statement added.

The company stated that no material impact would affect the company’s position following the new object.

Last September, Zahraa Maadi announced the establishment of a new joint firm with Premier Real Estate Investments, besides offering a 53,700 square-meter land plot to be developed in partnership with other property developers.

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04 Oct 2021
United Housing & Development UNIT

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