Egypt's South Cairo Mills and Bakeries Company has announced plans to sell two land plots in public auctions. The plots, located in the Old Cairo area, will be sold through a sealed-bid tender process. One plot, situated at 7 Ibn Tahir Street, off Hassan Al-Anwar Street, has an area of approximately 1554 square meters. The second plot, located at 19 Uqba Street, has an area of around 843 square meters.
The auctions for the two land plots are scheduled to take place on separate days in October. The first plot's auction will be held on Sunday, October 11, 2026, at 12:00 PM at the company's headquarters in Giza. The second plot's auction will take place on Monday, October 12, 2026, at the same time and location. Interested bidders must purchase a tender document for 3005 Egyptian pounds and pay a 2 million pound deposit.
The company's financial performance has shown significant improvement. In the fiscal year ending June 30, 2026, South Cairo Mills reported a 1373.74% increase in net profit compared to the previous year. The company's net profit after tax reached 89.47 million Egyptian pounds, up from 6.07 million pounds in the previous fiscal year. Revenue also increased to 416.76 million pounds from 263.29 million pounds.
The land plots being auctioned are part of the company's strategy to optimize its assets. The plots are located in prime areas of Old Cairo, with potential for development and investment. The company's decision to sell the plots through public auctions aims to ensure transparency and maximize returns.
The tender documents for the land plots are available for purchase at the company's headquarters and through the office of the expert appraiser, Abdullah Mohamed Al-Habashi. Bidders must submit their offers and attend the auction sessions in person. The company's management has emphasized that the auctions will be conducted under the supervision of the expert appraisers, Azat Saeed and Mohamed Saeed.
The revenue generated from the sale of the land plots is expected to contribute to the company's growth and expansion plans. South Cairo Mills has a long history of operating in Egypt, and the sale of the plots is part of its efforts to optimize its resources and focus on its core business.
The auctions for the two land plots represent an opportunity for investors to acquire prime properties in Old Cairo. The company's transparent and competitive auction process aims to attract serious bidders and ensure a fair market value for the plots.
Key points
- South Cairo Mills to sell two land plots in public auctions in October
- Company's net profit increases by 1373.74% in fiscal year 2026
- Land plots located in prime areas of Old Cairo with potential for development and investment
