The Clap
Arab Company for Asset Management & Development (ACAMD), which provides financial assistance and asset management services to investors, has received an offer from an Emirati consortium for the development of one of its landbanks.
What
The offer would see the consortium fully develop Zefta City, located in Gharbia governorate with an area of 14 feddans, as well as pay for its initial licensing expenses.
So what
ACAMD would receive 36% of the project’s revenues, but would eventually repay the licensing expenses back to the consortium.
Now what
ACAMD’s board of directors will be discussing this offer in their next meeting.
