Al Ahly Sabbour Development is seeking to offer 20-25% of its shares on the Egyptian Exchange (EGX), with the selection of an offering advisor in early 2025.

Al Ahly Sabbour Development has reported a 400% year-on-year (YoY) climb in its sales during the first half (H1) of 2024, reaching EGP 25.5 billion up from EGP 6 billion in the same period last year.

Al Ahly Sabbour is planning for an initial public offering (IPO) on the Egyptian Exchange (EGX) within six to nine months.

The government has received three requests for the establishment of three private free zones.

Al Ahly Sabbour for Real Estate Developments is seeking to obtain EGP 5 billion worth of loans to finance two real estate projects in East Cairo and the North Coast.

The National Bank of Egypt (NBE) and Al Ahli Sabbour have officially launched a joint venture (JV), dubbed Mint Real Estate Assets, to develop and maximize the value of real estate investments and assets in Egypt.

Al Ahly Sabbour is targeting purchasing around 1,000 feddans in Ras El-Hekma to develop an integrated tourist and urban project, the company’s Chairman Ahmed Sabbour said.

Beltone Leasing & Factoring, a wholly owned subsidiary of Beltone Financial Holding, has signed a sale and leaseback agreement with Al Ahly Sabbour for Real Estate Developments.

Al Ahly Sabbour eyes generating sales of EGP 16 billion in 2024 from its projects across eight areas in Egypt, CEO Ahmed El Sabour said.