The Egyptian government is seeking to minimize its ownership in three companies affiliated with the Holding Company for Construction and Development (HCCD) that are listed on the Egyptian Exchange (EGX), a government official told Asharq Business.

The firms are Heliopolis Company for Housing and Development, Zahraa Maadi Investment and Development, and Al Shams Housing and Urbanization, the official highlighted.

The government is planning to reduce its stakes in the three EGX-listed firms to less than 20% in early 2025, the official said.

He added that this move aims to promote the role of the private sector in managing and maximizing the value of these companies in accordance with the State Ownership Policy Document.

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