Real Estate Egyptian Consortium turns to losses in 2021

Revenues down

Staff Writer, Arab Finance

April 1, 2022

PHOTO

ArabFinance: Real Estate Egyptian Consortium (AREH) has turned to losses in the full year ended December 31st 2021, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on March 31st.

The company has suffered a net loss after tax of EGP 14.36 million in 2021, compared to a profit of EGP 16.02 million in 2020.

Moreover, the company has generated operating revenues of EGP 12.98 million last year, down from EGP 16.57 million in 2020.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector.

The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.

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