The Board of Directors at the Zahraa Al-Maadi Investment and Development Company has agreed to complete procedures to establish a joint company with Pyramisa Real Estate Investment Company.

In a statement issued on Thursday, Zahraa Al-Maadi stated that the new joint company will specialise in the maintenance and management of facilities at the Sheikh Zayed City project.

It said that the matter will be brought up for review at the extraordinary general assembly.

Zahraa Al-Maadi has recorded a net profit of EGP 69.45m in the first half (H1) of 2020, compared to EGP 58.7m during the same period last year.