The other recent investments have been in Fawry, the e-payments platform; Alexandria Container & Cargo Handling Company; the Misr Fertilizers Production Company and Abu Qir Fertilizers & Chemical Industries.
“Since the inception of ADQ’s $20 billion strategic investment platform with the Sovereign Fund of Egypt, we have executed several investment opportunities in Egypt, with the aim to deliver robust commercial benefits and sustainable growth,” said Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ. “The recent transactions are a testament to our long-term commitment to elevate our investment partnership with Egypt and continue deploying capital in projects of commercial importance.”
In The Long Term
Since the launch of the $20 billion investment platform, ADQ has been involved in the acquisition of an 85.52% stake in the Egyptian real estate company SODIC. along with Aldar.
There was also the acquisition of Amoun Pharmaceutical Company, one of Egypt’s leading pharmaceutical manufacturers.
The Egyptian economy has shown resilience and ‘real GDP growth continues to outpace the majority of emerging market economies. The current year projections estimate GDP growth to reach 5.5 percent.
“With its strategic location and the large size of its domestic market, the investments were driven by taking into account the underpinnings of Egypt’s strong domestic consumption, productivity growth, enormous untapped export potential, and positive trade outlook,” ADQ said in a statement.
Originally published on www.gulfnews.com