National Bank of Egypt completed the acquisition of a 24% stake in Hyde Park Developments from Egyptian Arab Land Bank.

National Bank of Egypt, a commercial bank, completed the acquisition of a 24% stake in Hyde Park Developments, a real estate development company, from Egyptian Arab Land Bank, a commercial bank. Financial terms were not disclosed. "This deal is in line with the strategy of the National Bank of Egypt to support the Bank's investment portfolio by diversifying its investment activities to ensure the effective presence of various economic sectors to guarantee the strength of that portfolio," Hisham Okasha, National Bank of Egypt Chairman of the Board of Directors.