Arab Finance: WZ Investment has increased its stake in Pioneers Properties for Urban Developments (PRE Group) from 21.26% to 23.69% after purchasing 25.45 million shares for EGP 139.975 million, according to a disclosure submitted to the Egyptian Exchange (EGX).
The transaction was executed on October 27, 2026, at an average price of EGP 5.50 per share, through Aspire Securities and Bonds.
The disclosure also reported that related groups held a 39.04% stake following the transaction.
It is worth mentioning that PRE Group reported a 136.24% year-on-year (YoY) increase in consolidated net profit attributable to the parent company during the first half (H1) of 2026.
Pre Group is a leading developer of both commercial and multi-purpose real estate projects. The company's real estate development and construction division covers various stages of projects, from investment and development to contracting, leasing, and management.
