Egyptians Real Estate Fund profit falls by 66.7%
Updated 2/7/2021 1:33:47 PM
ArabFinance: Egyptian Real Estate Fund (EGREF) posted a 66.7% Year on Year decline in its net profit in 2020, according to the fund’s February 7th statement filed to the Egyptian Exchange.
Net profit stood at EGP 959,495 in 2020, compared to EGP 2.88 million in 2019.
In January, the fund mulled increasing its business volume to EGP 200 million.
The listed firm posted net profits of EGP 1.99 million during the first six months of 2019, compared to EGP 2.45 million in the same period a year ago.
The fund is a Cairo-based private company operating within the real estate sector focusing on specialized real estate investment trusts.
