Yes. The 47th is owned by private equity investor The Abraaj Group.
The 47th is headquartered in New Cairo, Egypt.
The 47th is a construction company.
New Cairo,
Egypt,
The 47th is a grade “A” office and retail property of New Cairo, Egypt, which was built in 2009. The Abraaj Group purchased the property in 2010 as part of its strategy to take advantage of growth opportunities emerging across North Africa following regional political changes. The building in the upcoming 5th district has attracted a number of leading multinationals as tenants, including Bristol-Myers Squibb, Fujitsu and GlaxoSmithKline. Despite political uncertainty, the investment has performed in line with expectations, retaining its 2010 value and yielding regular rental income. Our targeted leasing strategy has led to an increase in occupancy rate from 84% to 96% within 12 months.
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