Manazel Real Estate Developments, an indirect subsidiary of Kuwait’s Manazel Holding, has agreed to exchange its stake in the North Coast Zoya project with Landmark for Real Estate Development (LMD), according to a press release.
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.
Manazel stated that the exchange arrangement for the same investment value has been approved by the subsidiary’s board of directors and that it will not have a major impact.
