The Clap
Compass Capital is planning to list a stake of Bonyan on the EGX but is waiting for the right time.
More on Bonyan
Bonyan is a real estate investment fund in the form of a joint stock company. The company has real estate that delivers fixed rental income, an ongoing flow of income for shareholders.
The company owns 90,000 meters, 43,000 to be used for commercial buildings and 47,000 to be used for administrative buildings.
The Deets
Tarek Abdel Rahman, Managing Partner at Compass Capital, said that the listing on the EGX will depend on the conditions of the market.
Abdel Rahman also said that Bonyan holds assets worth EGP 5.5 billion, qualifying it to be listed on the EGX.
New Model
According to Abdel Rahman, Bonyan is a new model in real estate development.
Bonyan owns a large number of administrative and commercial buildings, that are rented and not sold. Other real estate companies typically purchase land, build projects and sell them off.
The listing of Bonyan will give investors the opportunity to invest in administrative and commercial buildings, without the need to actually buy these buildings.
Stake in Bonyan to be listed? 👀
