Smart Village Mulls Listing Shares in Egypt Bourse by 2014

Smart Villages Development and Management Company (SVC) – one of the major successful Egyptian private public partnership (PPP) – is considering to list some of its shares on the Egyptian Exchange (EGX) within 2014.

Listing on the Egyptian bourse comes in the light of the SVC’s plans to fund its expansions outside Egypt also as to start establishing its Smart Village Damietta project.

Dr. Adel Danish – SVC Chairman and CEO – has stated that his firm is studying to list shares on Egypt’s bourse within 2014 to finance its expansion plans.

SVC is not willing to secure such loans from banks, therefore, listing on the EGX might be the optimal way to finance its upcoming expansion plans, Danish noted.

Furthermore, he has also elaborated to Amwal Al Ghad that SVC will not resort to borrow from banks to fund its expansion plans, citing the high interest rates on loans which could eventually harm its expense rates.

SVC has a number of plans to expand outside Egypt within the coming year, to include Tunisian and Jordanian markets.  It also intends to carry out its Smart Village in New Damietta, which will focus on the main industries widely spread in the city, notably the furniture business.
Smart Villages Development & Management Company was founded in August 2001 as a Public-Private-Partnership (PPP) investment with a mandate to establish and manage a branded chain of Technology Clusters and Business parks and it is now considered the Egyptian Technology Cluster Icon.