Cairo: Board members of the state-owned Misr Banque have earmarked Jan. 9, 2007 as the date for opening bid envelopes for ownership of 100 percent of the Misr Ameriya Company for Real Estate Investment.
The company s is earmarked for sale under the government stake privatization scheme.
Helmi al-Saeed, investment official at the Misr Banque, said the bank would organize an auction between the three highest price proposals, noting that the Commercial International Brokerage Company was appointed for the deal promotion.
The capital of Misr Ameriya Company is estimated tat E£300 million, 99 percent owned by Misr Banque.
The company owns a land space of 800 feddans in Ameriya, Alexandria, which could attract manufacturing investors to set up an industrial zone there.
Officials expect companies from the Gulf area to show greater interest in the company, as most of these firms have been apparently interested in the Egyptian real estate and construction sector over the recent months.
Major Arab companies with large investments in the Egyptian construction industry include UAE Emaar, Damac, Dubai Holding and Efad Holding of Kuwait.
