GB Capital and others agreed to acquire 35.25% stake in New City Housing & Development from Orascom Development Egypt (S.A.E) (CASE:ORHD) for CHF 7.3 million on December 13, 2020. The transaction was approved by Board of Directors of Orascom Development Egypt. GB Capital and others completed the acquisition of 32.25% stake in New City Housing & Development from Orascom Development Egypt (S.A.E) (CASE:ORHD) on December 16, 2020.