Arab Finance: Pioneers Properties for Urban Development’s (PRDC) consolidated profits attributable to the holding company recorded EGP 414.023 million in 2023, compared to net losses of EGP 153.105 million in 2022, the firm disclosed.

However, consolidated revenues went down to EGP 5.783 billion last year from EGP 7.001 billion a year earlier.

The company’s standalone net losses after tax dropped to EGP 26.561 million in 2023 from EGP 80.334 million in 2022.

Meanwhile, standalone revenues soared to EGP 165.198 million from EGP 53.251 million.

Founded in 2021, Pioneer Properties for Urban Development is an Egypt-based company primarily engaged in real estate development, investment, and construction activities.

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