Cairo – Mubasher: Target for Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has sold 4.26 million of its shares in Real Estate Egyptian Consortium for an average price of EGP 1.33 per share.

Hence, Target for Real Estate Investment reduced its stake in Real Estate Egyptian Consortium to 8.15% from 9.21%, according to a bourse filing on Thursday.

The total value of the shares sale transaction amounts to EGP 5.69 million.

SHUAA Securities acted as a broker in the transaction.

In the first quarter (Q1) of 2022, Real Estate Egyptian Consortium reported net profits after tax worth EGP 6.22 million, lower than EGP 8.02 million in Q1-21.