Arab Finance: The Holding Company for Construction and Development (HCCD) has recorded operating revenues of EGP 20.5 billion in fiscal year (FY) 2022/2023, growing by a 12% year-on-year (YoY), Minister of Public Business Sector Mahmoud Esmat revealed in a statement on August 21^st.

HCCD also saw a 4% YoY surge in net profits during the last FY, he added.

The company’s contracts portfolio is expected to reach around EGP 35 billion in FY 2023/2024, Esmat said.

Esmat stressed the importance of diversifying the company’s investment portfolio via widening the scope of land reclamation projects, increasing the investments of joint ventures, managing real estate assets, and providing geographic information systems (GIS) services.

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