These figures indicate a projected increase of 15 to 20 percent over the current year's target. Khaled Abbas, the Chairman and Managing Director of ACUD, shared these insights at the 7th edition of the Real Estate Debate Conference.
Abbas also disclosed that detailed earnings for the period until September 2023 will be announced later in the month. He highlighted that ACUD plans to reveal partnership opportunities with the private sector soon for joint project implementations in the Administrative Capital.
Earlier in September, ACUD had announced plans for a public offering on the Egyptian Exchange (EGX), aiming to be completed within the first half of 2024.
This move involves listing 10 percent of ACUD's shares on the EGX, aligning with the government's broader strategy to sell stakes in 35 state-owned enterprises to strategic investors by the first half of 2024.
The government anticipates raising nearly LE 70 billion, equating to about 0.6 percent of Egypt's gross domestic product (GDP), through this initial public offering (IPO) program in the fiscal year 2023/2024.