Arab Finance: Real estate player Tabarak Developments plans to offer 30% of its shares on the Egyptian Exchange (EGX) in the second half (H2) of 2025, Chairman Ali Al Shorbany told Asharq Business.

The IPO, initially delayed due to market conditions, is now moving forward as preparations are underway.

The company anticipates sales of up to EGP 15 billion next year from its projects in the Fifth Settlement, New Zayed in Cairo, and Ras Sedr in South Sinai.

Tabarak is also set to finalize a new project with the New Urban Communities Authority (NUCA) in New Sphinx City, covering 800 feddans, and is in talks to purchase land in New Zayed City, paying in USD.

Al Shorbany noted that 30% to 35% of Tabarak's sales come from foreign clients paying in foreign currency, and the company plans to expand its international offices to reach European markets.

Additionally, Tabarak is exploring partnerships with Saudi companies National Housing Company (NHC) and Al Saedan Real Estate to develop commercial malls in Roshn valued at SAR 100 million.