Fawry Acquires Majority Stake In Svreico Building In Smart Village
Date
9/10/2024 11:23:59 PM
(MENAFN- Daily News Egypt) Fawry, Egypt's leading digital payments company, has acquired an 80% stake in Svreico's administrative building in the Smart Village, marking a significant expansion of their partnership.
The move gives Fawry access to cutting-edge facilities and infrastructure within Svreico's building, which will enhance its digital payment services, according to a statement released by Svreico Real estate investment Company.
The partnership dates back to 2021 when Fawry secured two floors in the building. This latest agreement marks a major step in the collaboration, with Fawry now owning the majority of the building.
“This partnership is a testament to Svreico's 17 years of expertise as a premier provider of real estate services,” said Hisham El-Far, Chairperson and CEO of Svreico.“It marks a new chapter in the collaboration between both companies, showcasing Svreico's ability to offer flexible real estate solutions that support the rapid expansion of industry leaders like Fawry.”
The deal goes beyond providing Fawry with additional space, according to El-Far. It will significantly enhance the company's commercial and administrative functions, including access to server facilities, expanded parking and storage areas, and a range of other benefits.
“The expansion of our partnership with Fawry, a pioneer in digital payments, reflects the confidence in Svreico's strategy and our 17-year track record of delivering exceptional services to our partners and clients,” El-Far said.“This partnership, in its new form, enhances Fawry's commercial and administrative functions, enabling them to continuously and effectively elevate their digital payment services by securing rights to leverage substantially more benefits offered by the premises.”
Svreico focuses on creating agile and modern office spaces that meet sustainability standards, according to the company. The company's goal is to provide flexible real estate solutions tailored to the needs of high-growth companies.
The acquisition is part of Svreico's vision to create an environment that fosters corporate growth and prosperity.
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