EALB Offers Property In Mohandseen For Sale Next Thursday

The Egyptian Arab Land Bank (EALB) targets to sell a residential property on an area of 550 meters in Shehab Street in Mohandseen through a public auction next Thursday.

The system of the auction is based on written bids in sealed envelopes, said Mohamed Bayoumi, head of investment trustees department at EALB.

The bank has succeeded in selling properties in Ain Sukhna at EGP 40 million since the beginning of 2012.

It is worth mentioning that EALB reduced its real estate portfolio from EGP 2.6 billion in September 2011 to EGP 2.3 billion in September 2012.