
Ghabbour family stake in Cairo-based automaker nears $300 million
GB Corp. stock has risen 19.91% in the past five weeks, boosting the Ghabbour family’s stake value by $45.73 million.
GB Corp. stock has risen 19.91% in the past five weeks, boosting the Ghabbour family’s stake value by $45.73 million.
CEO Osama Bishai said Orascom is prioritizing projects with foreign currency funding and international financial backing.
Under the agreement, Alameda will manage and operate a state-of-the-art hospital within TMG’s flagship Madinaty development in East Cairo.
Egyptian billionaire Yasseen Mansour’s vast empire spans real estate, automotive, retail, and finance, solidifying his influence in Egypt’s economic transformation.
Real estate tycoons like Naguib Sawiris and Hisham Talaat Moustafa are shaping Egypt’s skyline with multi-billion-dollar luxury and mixed-use developments.
The recovery follows a sharp decline between Jan. 1 and Feb. 7, when the market value of his stake dropped by EGP 2.84 billion ($56.48 million).
With a strong financial foundation, Elsewedy Electric is positioning itself for further expansion, reinforcing its role as a key player in the global energy and infrastructure market.
The company has secured the contract to develop “Campus 2026,” a major expansion of The American University in Cairo (AUC).
The partnership aligns with Egypt’s push for cleaner energy in transportation, as the country looks to cut fuel costs and reduce carbon emissions.
The company argues that the economic conditions that led to the duty in 2022 have changed, making it unnecessary.
This recent surge adds to an impressive $304 million gain in 2024.
As part of the agreement, Korra Energy will lead the construction of a showroom in Tajed, a key component of Taj City’s broader mixed-use development.
In the past nine days, his shares have increased by $30.1 million, pushing the market value of his stake above $325 million.
This surge brings her total stake to over $100 million, reflecting the company’s solid performance on the Egyptian bourse.
The project, the first of its kind in Greece, signals a pivotal moment in Elsewedy Electric’s aggressive expansion strategy within the renewable energy sector.
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688,207,000 shares.