Arab Developers turns to loss in Q1 2024

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Revenues fell to EGP 216.459 million in the three months to March 31st from EGP 255.731 million in the same period last year

Staff Writer, Arab Finance

May 30, 2024

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Arab Developers Holding (ARAB) recorded EGP 36.225 million in consolidated net losses attributable to the parent company in the first quarter (Q1) of 2024, compared to net profits of EGP 15.448 million in Q1 2023, the firm stated.

Revenues fell to EGP 216.459 million in the three months to March 31st from EGP 255.731 million in the same period last year.

The firm achieved standalone net profits after tax of EGP 114.236 million in Q1 2024, versus EGP 73.764 million in Q1 2023.

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.

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