PRESSR: Future of Egypt Authority continues its investment moves on the stock exchange

About this update from Palm Hills Development Co.

The Future of Egypt Authority continued its investment activity through the Egyptian Stock Exchange as part of its plan to diversify its investment portfolio across various sectors. The authority added a new stake of 12.891% (2,710,653 shares) in Development & Engineering Consultants (Tameer), complementing its existing stakes in other companies. This marks its first step into the real estate sector within its stock market portfolio.The average purchase price in the transaction amounted to EGP 87.276 per share, bringing the total transaction value to approximately EGP 236,575,720.60. As a result, the authority’s ownership in the company rose from 1.368% before execution to 12.891% after execution, signaling a significant shift in the company’s ownership structure and reinforcing the authority’s position as a major shareholder.It was noted that the transaction was executed through Al Ahly Pharos Securities Brokerage, the broker handling the operation, in accordance with regulations governing the securities market.This step comes as part of the authority’s recent efforts to pursue a carefully studied diversification strategy aimed at strengthening its role as a long-term national investor in real productive sectors. Its recent investments include Mansoura Poultry, Ajwa Food Industries, and Ekme Medical Industries—sectors directly linked to the state’s plans to achieve self-sufficiency, localize vital industries, and reduce dependence on imports.Menna Allah Mohamed Khaled, a financial analyst at Misr Exterior Financial, said that Future of Egypt Authority’s acquisition of stakes in promising sectors—such as food, poultry, and medical industries—represents a highly positive step. It sends strong signals of confidence and reassurance to Arab and foreign investors regarding the strength and stability of the Egyptian market.When discussing the authority’s acquisition of a stake in Development & Engineering Consultants, attention naturally turns to the flagship real estate project “Garian”, which invigorated the real estate market with its unique designs and ideas. The project was launched by the authority through its real estate arm, Nation or Sky, in collaboration with Palm Hills Developments and Mountain View.Menna Allah also highlighted that the authority’s first real estate projects in the local market enjoyed strong demand, offering distinguished units in p...

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