Out of 60 sectors in the Mergr database, construction ranked 28 in number of deals in 2010. The largest construction acquisition in 2010 was Valemus Australia Pty - which was acquired by Lend Lease Group for $754M.
Join Mergr to view all 63 acquisitions of construction companies in 2010, including 15 acquisitions by private equity firms, and 48 by strategics.
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.
The 47th was acquired by The Abraaj Group on December 1, 2010.
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