Cairo - Mubasher: The board of Atlas for Land Reclamation gave a go-ahead for establishing a new unit specialised in real estate development.

The new unit will be operating with authorized capital of EGP 20 million, and issued and paid-in capital of EGP 2 million and EGP 200,000, respectively.

Meanwhile, the company's board approved to raise the capital of Al Mona for Agricultural Development by EGP 7.25 million.

Al Mona for Agricultural is 60% owned by Atlas.

Atlas is currently capitalised at EGP 59.21 million, distributed across 5.9 million shares at EGP 10 par value.