BSTE Selects Construction Partner for Narenjestan South, With Two Phases Awaiting Registration
Sahmino Newsroom | 9 November 2026 | 3 days ago
International Building Development Company, ticker BSTE, said in a group B filing published on Monday, November 9, 2026 (18 Aban 1405) that its board agreed the same day, after a call for partners, to build Narenjestan South in Izadshahr, Mazandaran, with Asman Bikaran Hashtom Tous. BSTE says its share was increased from the initial offer in final negotiations.
Under the filing, BSTE contributes project land measuring about 24,658 square metres, while its partner funds, designs and builds it. BSTE's share is 54 percent in the first two phases and 25 percent in the third. The first two phases depend on formal contract registration, and its obligations in phase three depend on title to that phase's land being established. The company says the precise financial effect cannot yet be estimated given uncertainties over timing and unit prices.
Sahmino context
What the prices have done since this story was published, and what Sahmino wrote around it
Since this story was published, BSTE rose 5.7 percent, to 928 rial.
Over the same days, US Dollar rose 0.1 percent, to 2,640,700 rial.
Over the same days, Tehran Stock Exchange Index rose 3.6 percent, to 8,427,304.
Over the same days, Brent Crude fell 0.3 percent, to 92.00 dollars.
- BSTE
- +5.7%
- US Dollar
- +0.1%
- Tehran Stock Exchange Index
- +3.6%
- Brent Crude
- −0.3%
Prices to the close of 11 November
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