Bonyan acquires 8th commercial asset in REDCON Properties’ Golden Gate Project

Bonyan for Development and Trade (Bonyan), a leading real estate investment company in Egypt, successfully completed its eighth asset acquisition as part of its expansion strategy.

Focused on acquiring and managing commercial real estate assets, Bonyan closed an asset acquisition to expand its portfolio in Redcon Properties’ Golden Gate project, with its purchase of a Grade A office building, its 8th asset in the project.

This is in line with Bonyan’s strategy of acquiring trophy commercial real estate assets cementing its position as the leading real estate investment company in Egypt.

“The transaction cements Bonyan’s strategy of becoming the leading real estate platform focused on the ownership of commercial real estate assets, generating returns through capital appreciation and rental revenues.  This is essentially taking a long position on the USD and a short position on the LE by conducting LE-denominated leveraged acquisitions,” said Shamel Abouelfadl, Chairman of Bonyan.  

The newly acquired building is located in the first phase of the sustainable Golden Gate community, in front of the American University in Cairo (AUC) on South 90th Street, New Cairo. The acquired building is a green-certified office building with a BUA of 6,888 SQM.