Egyptian real estate investment company Marseille Almasreia Alkhalegeya for Holding Investment is contributing to the establishment Marseille Asset Management Company Marseille Asset Management Company with a licensed capital of EGP 2.5 mn, Invest-Gate reports.

The company’s issued and paid capital amounts to EGP 250,000, distributed on 25,000 shares at EGP 10 per share.

The new firm will manage real estate projects and assets, and operate resorts, tourist villages, malls and cinemas, according to a bourse statement.

Marseille owns 99% stake in the new company, equivalent to 24,750 shares worth EGP 247,500.