Cairo – Mubasher: South Cairo & Giza Flour Mills & Bakery Company announced the cancellation of the public auction designated for the sale of the "Dar El Salam Mill" land.
The company explained, in its disclosure sent to the Egyptian Exchange (EGX) today, that the auction session witnessed bidders submitting offers, purchasing the terms and conditions booklets, and paying the primary bid bond. The bidding started at EGP 8,000 per square meter, reaching a peak price in the sealed envelopes, with bidding halting at EGP 11,000 per square meter.
It added, "Since the price at which the bidding halted fell below the valuation price prepared by the advisory firms, the awarding committee decided to cancel the public auction and refund the bid bond to the bidders."
The land area of "Dar El Salam Mill" is approximately 679 square meters (subject to deficit or surplus).
