Egyptians for Housing inks EGP 40M leasing contracts
Updated 11/24/2022 10:43:00 AM
Arab Finance: Egyptians for Housing and Development Company (EHDR) inked two leasing contracts for a total annual value of EGP 40 million, according to a filing to the Egyptian Exchange (EGX) on November 24th.
The first contract was signed with Huawei Technologies Egypt for a fully-finished one-and-a-half floor spanning 3,420 square meters (sqm) for an annual rent of around EGP 21 million.
The value of the rent will increase by 8% on an annual basis through the contract’s 5-year term. The contract will be effective as of May 1st 2023.
The second contract was signed with Sweden’s Transcom Worldwide for unfinished two floors spanning 4,800 sqm for an annual rent of around EGP 19 million.
The value of the rent will increase by 8% on an annual basis through the contract’s 5-year term. The contract will be effective as of January 1st 2023.
Egyptians for Housing operates in the real estate development and investment sector, focusing on buying, purchasing, dividing, and selling lands, and establishing buildings and facilities.
The company’s business also includes setting up urban expansion projects, residential and commercial complexes, and new township projects.
