Bonyan for Development and Trade (“BONY.CA”), Egypt’s leading independent real estate platform, announces the signing of a new lease agreement for Building 106B, located on the Ramsis Street Extension in Nasr City, Invest-Gate reports.

The building will be fully leased to Kortech, a subsidiary of Hassan Allam Group and a leading Egyptian provider of turnkey solutions across MEP, IT, data centers, and telecom infrastructure.

The transaction underscores Bonyan’s continued ability to actively manage its portfolio, enhance asset value, and materially grow recurring rental income.

Lease Terms and Portfolio Strategy

Under the new lease agreement, Kortech will occupy the entire 4,297 SQM, starting May 2026, after the expiry of B.Tech’s lease in April 2026.

The lease reflects updated market rental levels, improving terms and enhancing cash flow visibility. This agreement forms part of Bonyan’s broader strategy to reprice 15,176 SQM of EGP-denominated contracts in 2026, representing approximately 42% of the Company’s EGP office rental revenue.

The successful re-leasing highlights Bonyan’s proactive asset management, disciplined tenant selection, and ability to capture rental upside. Building 106B is part of Bonyan’s strategically located commercial portfolio, benefiting from strong demand and sustained interest from high-quality corporate tenants.

CEO’s Comment

Tarek Abdelrahman, CEO, “The successful re-leasing of Building 106B on improved rental terms, following the expiry of a legacy contract with rents below prevailing levels, demonstrates the embedded value within our portfolio and the effectiveness of our active asset management strategy.

Securing a high-quality tenant such as Kortech, part of the Hassan Allam Group, underscores our ability to drive rental growth and enhance long-term cash flow visibility. This transaction further reinforces Bonyan’s position as a leading platform for premium income-generating commercial real estate in Egypt.”