Decent interest received for government’s share of TMG’s units
More than 6,000 bidding documents for the government’s launch of its share in TMG’s Madinaty and El-Rehab projects were collected during the first five days since the launch of the sale of the units, which amount to 5,400 units. Prices were raised to EGP5,950/sqm, from EGP5,500/sqm at Madinaty and EGP7,600/sqm from EGP7,500/sqm at El-Rehab. The Ministry of Housing may consider raising the number of units offered to meet the expected demand. (Al Borsa) TMG Holding: EGP5.62 as of 13 October 2016, Rating: Buy, FV: EGP10.25 per share, MCap: USD1,306mn, TMGH EY / TMGH.CA
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