Shareholder ups stake in Arab Development

Updated 11/23/2021 10:45:00 AM

ArabFinance: Arab Development and Real Estate Investment (ADRI) announced that shareholder Omar Abdel Azizi Baraka has raised his stake in the company to 10.07% from 9.73%, according to a filing to the Egyptian Exchange (EGX).

This came after Baraka purchased 200,000 shares in the company at an average price of EGP 1.19 per share.

Launched in 2011 and listed on EGX in 2014, Arab Development operations are focused on real estate development. It has one subsidiary operating across Egypt, working on real estate investment trusts.