Mubasher: The Boursa Kuwait-listed Manazel Holding said that its subsidiary, Manazel for Real Estate Development – Egypt, has signed a development partnership agreement with Egypt's Land Mark Real Estate Development.
Manazel clarified that Land Mark will obtain 40% of the project’s profit in return for developing, constructing, and promoting the project, which will be located in east Cairo, according to a bourse statement issued on Tuesday.
Manazel Holding said that no financial impact will currently reflect on the financial statements.
At the stock level, Manazel ended Tuesday’s session 2% higher at 51 fils, with liquidity standing at KWD 1.72 million after 33.44 million shares were traded.
