Cairo – Mubasher: Arab Co. for Asset Management and Development announced that it will offer a land in Abu Tig city in the governorate of Assiut for sale in a public auction on 18 December.

The land, which spans over an area of 28,960 square metres, will be sold in a sealed-envelope auction in collaboration with Integrated Real Estate Services (IRS), the company said in a statement to the Egyptian Exchange (EGX) on Monday.

In a separate statement, the company revealed that the board approved the appointment of Hany Abdel Latif Olama as chairman and managing director of the company.