A Capital Holding Takes Initial Steps to Convert ”Delmar” into a Real Estate Investment Fund
Preliminary Approval from the Financial Regulatory Authority
A Capital Holding has obtained a non-objection approval from the Financial Regulatory Authority (FRA) regarding the exit of its subsidiary, "Delmar for Tourism Development," from the umbrella of Investment Guarantees and Incentives Law No. 8 of 1997. This step paves the way to complete the procedures for converting the company into a real estate investment fund governed by the provisions of the Egyptian Capital Market Law.
In a disclosure sent to the Egyptian Exchange (EGX), the company explained that the FRA's approval came in light of the initial consent issued by A Capital's board of directors to proceed with the conversion of Delmar, in which it holds a 99.9% stake.
Legal and Regulatory Framework for the Conversion
The process aims to transfer the subsidiary from being subject to the Investment Law to operating under Capital Market Law No. 95 of 1992 and its executive regulations, in order to engage in real estate investment fund activities.
This transition relies on FRA Board Decision No. 179 of 2025, which sets out the requirements, controls, and procedures for converting companies engaged in real estate investment or development into real estate investment funds. The company emphasized that the current approval serves as a preliminary regulatory step rather than a final license, pending the completion of all required legal and regulatory procedures.
Financial Performance Indicators for H1 2026
On the financial side, A Capital Holding recorded a consolidated net profit attributable to the parent company's shareholders of EGP 301.86 million during the first half of 2026, compared to EGP 410.25 million in the same period of 2025, marking a decline of 26.42%.