Egyptians for Investment reports higher profit

Updated 3/7/2021 12:07:00 PM

ArabFinance: Egyptians for Investment and Urban Development reported a 73% Year on Year rise in its net profit in 2020, according to the company’s March 7th financial statements filed to the Egyptian Exchange.

Net profit stood at EGP 32,863 in 2020, compared to EGP 18,976 achieved in 2019.

The Financial Regulatory Authority (FRA) gave the green light for Egyptians for Investment to increase its issued capital by EGP 10 million.

The volume will be distributed on 10 million shares at a par value of EGP 1 each. This will be carried out as one share for each four original stocks.

Egyptians for Housing is engaged in the real estate development and investment sector. The company focuses on buying, purchasing, dividing, and selling lands, and establishing buildings and facilities. This is in addition to setting up urban expansion projects, residential and commercial complexes, and new township projects.