Cairo — Mubasher: Marseilia Almasreia Alkhalegeya Real Estate Investment on Thursday announced that it has approved increasing the capital of its 50% owned subsidiary, Motah Real Estate Investment and Tourism.
Motah Real Estate’s authorised capital will be boosted to EGP 100 million from EGP 2.5 million, while its issued capital is to increase to EGP 28 million from EGP 250,000, Marseilia said in a statement to the Egyptian Exchange (EGX).
The firm’s capital will be increased in partnership with other shareholders, Tawasul Holding for Financial Investments and IG Capital, the Egypt-based real estate developer added.
In the first nine months of 2018, Marseilia Almasreia reported a profit of EGP 1.47 million, against EGP 9.95 million in the prior-year period.
