ArabFinance:   Arab for Asset Management (ACAMD) decided to hold a sealed envelope auction to offer its 1249.23-sqm land in Desouk, Alexandria.

The auction will be held on April 2nd in the company's headquarter, according to the released statement.

The company achieved a net profit of EGP 43,900,985 since its establishment. In terms of revenues, it posted EGP 52.701 million.

Arab Company for Asset Management and Development was established under the provisions of Law No. 159 of 1981 based on the division of the Arab Company for Cotton Ginning (the original company) to Arab company for Asset Management and Development. (Split company). It owns a land bank in attractive locations in the governorates of Egypt with a total area around 588 thousand square meters approximately.

The company seeks to maximize the return on investment through investing in real estate development including but not limited to selling plots of land, partnering with potential real estate developers, developing real estate projects with different product mix residential, retail, office space, touristic, medical ... etc.

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