ADSERO Advises Chimera Capital in Acquiring Significant Minority Stake in Gemini Global Development Egypt

December 6, 2021

Adsero - Ragy Soliman & Partners is proud to announce that we assisted Chimera Capital in structuring, negotiating, and closing one of its most notable real estate investments in Gemini Global Development Egypt (GGDE). Chimera has invested USD 100 million, equivalent to EGP 1.5 billion, for the acquisition of a significant minority stake of primary shares in GGDE.

The transaction comes in furtherance to the longstanding partnership between Egypt and the United Arab Emirates, showing investors faith in one of the main driver sectors to the Egyptian economy.

Chimera is an Abu Dhabi-based private investment firm managing a portfolio of listed and unlisted equities in local and regional markets and is part of Abu Dhabi’s Royal Group.

The capital increase will further support the expansion and development of Gemini’s Egyptian real estate operations under Ora Developers. Ora’s most noteworthy projects include Zed El Sheikh Zayed, Zed East, Pyramid Hills and the newly launched SilverSands on the Egyptian North Coast.

For more information, you can check Construction Business News ME coverage here.


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