Real Estate Egyptian Consortium announces change in shareholding structure

Updated 10/5/2021 2:49:36 PM

ArabFinanceReal Estate Egyptian Consortium (AREH) announced that shareholder Mohamed Abdel Nasser Hamid Mahmoud sold 4.169 million shares in the company for EGP 25.09 million, according to a filing to the Egyptian Exchange (EGX).

As a result, the shareholder’s stake in Real Estate Egyptian Consortium fell to 4.063% from 5.106%.

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.