Egypt’s Marseilia establishes new firm for property assets management

Egypt’s property developer Marseilia Group announced Wednesday that it has established a new firm for real estate asset management. The move aims to boost the group’s volume of businesses.

The new firm will be responsible for managing and operating the properties as well as offering more administrative, financial, investment, and marketing services in order to increase returns.

Marseilia’s recorded more than 1.3 billion Egyptian pounds ($71.8 million) in its total long-term assets at the end of 2016, up from 1.1 billion pounds at the end of 2015.