Arab Finance: The National Bank of Egypt (NBE) has acquired the Egyptian Arab Land Bank's share of 24% stake in Hyde Park Developments, Asharq Business reported, citing a statement from Egypt’s largest public lender.

This deal is in line with the bank’s strategy aimed at diversifying its investment portfolio.

Hyde Park Developments owns three subsidiaries, including Hyde Park for Sports Facilities Management and Founders Real-estate, with controlling shares exceeding more than 99%.

It was announced before that NBE intends to invest up to EGP 5 billion in new and existing projects during 2024.

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