Arab Finance: First Investment Company and Real Estate Development's (FIRE) Board of Directors was convened on 28/11/2016.
The BoD approved to contribute in establishment of a construction company "Promot for Real Estate Investment and development Company".
First Investment will own 49% of the new company, as its issued capital will amount to LE1 million and the authorized capital will be LE10 million.
Moreover, the company ratified authorized capital hike to LE50 million from LE10 million and increasing the company' stake in Ezz Tower - Assuit project to 25% from 10% of the total project.