Bonyan acquires prime offices in Park Street West bringing its acquisitions of grade A offices in the last 12 months to 8258 sqm
Cairo, Egypt – November 20 2024 :
– Bonyan, a leading independent real estate investment company, announces its acquisition of the last remaining sizable office space in Park Street – West وbringing the total acquisition size of grade A commercial office space in the last 12 months to 8,258 sqm. Park Street, located in Sheik Zayed, is considered one of Cairo’s premium mixed-used commercial developments with a strong office and retail presence. Bonyan executed an “acquire-to-suit” strategy, whereby it acquired a fully constructed asset to be leased to a specific tenant, demonstrating its consistent ability to attract premium tenants and provide innovative solutions to its tenant base.
“Bonyan has been assessing various assets in prime locations and the Park Street transaction is the first of a series of acquisitions expected in the near future following our recent capital increase,” said Shamel Aboul Fadl, Executive Chairman of Bonyan. “Bonyan continues to execute its investment strategy of opportunistically acquiring premium commercial real estate assets that enhance our portfolio and provide promising returns.”
The acquisition strengthens Bonyan’s portfolio and increases the number of owned assets to nine. Furthermore, with most of its assets located in East Cairo, the acquisition further increases Bonyan’s geographic diversification by selectively adding to its West Cairo presence.
About Bonyan
Bonyan is a pioneering, independent real estate investment firm dedicated to creating value through strategic acquisition and active management of commercial assets. Bonyan offers an effective and efficient investment solution to institutions and individuals seeking real estate investment exposure. The platform solves the challenges of investing in Egyptian real estate by providing a diversified exposure to an attractive, professionally managed real estate portfolio that enhances the benefits of real estate investment while mitigating its risks. Bonyan generates robust returns through both inflation-hedged capital appreciation and consistent rental income through leases to multinational and leading local tenants.
