Arab Finance: Misr El Gadid Company for Housing and Development received technical and financial proposals from three real estate development companies in Mansoura, according to a bourse statement.
Tahaour Company, AUD (Arcania), and Iskan Mansoura Company offered to participate in the development of a 54,000-square-meter plot of land located in East Mansoura.
The proposals include a guaranteed minimum return, the company's revenue share, and implementation and development timelines.
Meanwhile, the EGX-listed company formed specialized technical committees to evaluate the technical proposals from the three firms.
Once the technical evaluations are complete, the financial proposals will be reviewed and presented to the board members to select the optimal offer that aligns with the company's interests and maximizes added value for its shareholders.
Misr El Gadida Housing recorded 67.218% year-on-year (YoY) lower net profits after tax at EGP 2.559 billion in 2024, compared to EGP 7.808 billion.