ArabFinance: Elsaeed Contracting and Real Estate Investment Company stated that it has been assigned to a project in Qena worth EGP 190 million, according to the company’s statement filed to the Egyptian Exchange.
Under the agreement, Elsaeed will be the contractor of the project, the statement highlighted.
Elsaeed achieved a consolidated net profit of EGP 78,734,515 in the January-September 2020, compared to EGP 46,387,853 achieved in the prior-year period.
In mid-May, the company signed agreements to sell some of the office spaces in its administrative building in Katamya. The contract is valued at EGP 140,350,000, the company said.
ECREI is an Egypt-based company engaged in the provision of general and specialized contracting and construction services. The company’s activities are structured into three divisions: Contracting, Gravel Quarries and Real Estate.
