Mubasher: Kuwait’s Manazel Holding announced that its indirect subsidiary in Egypt, Manazel Real Estate Developments, has reached an agreement with Landmark for Real Estate Development (LMD) to exchange its investment in Zoya project in North Coast.
The subsidiary will exchange its investment in Zoya, valued at EGP 125 million, with an administrative area in One Ninety project, situated in New Cairo’s Fifth Settlement area, according to a bourse disclosure on Tuesday.
The subsidiary’s board of directors has approved the exchange deal for the same investment value, Manazel said, adding that the transaction will not have any material effect.
