Bonyan for Development and Trade announced the signing of a long-term lease agreement for Building 106B, located on the extension of Ramses Street in Nasr City, with Kortech, a subsidiary of Hassan Allam Group specializing in electromechanical solutions, IT, data centers, and telecom infrastructure.
Under the agreement, Kortech will occupy the building’s full leasable area of 4,297 square meters, with the contract starting in May 2026, replacing the previous tenant whose lease ends in April of the same year, with rental levels reset in line with current market rates.
The lease extends for five years, supporting clearer cash flow visibility and enhancing the profitability of Bonyan’s income-generating portfolio, in line with the company’s active asset management strategy and rental optimization plans.
The deal comes as part of a broader plan to reprice Egyptian pound–denominated lease contracts covering a total area of 15,176 square meters during 2026, representing about 42% of the company’s total administrative rental income.
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