Target Real Estate did not raise stake to 90%: Real Estate Egyptian

Real Estate Egyptian Consortium denied acquiring 90% of its shares by Target Real Estate Investment

  

ArabFinance: Real Estate Egyptian Consortium denied acquiring 90% of its shares by Target Real Estate Investment, according to the January 26th statement filed to the Egyptian Exchange.

The listed company reported a consolidated net profit of EGP 11,328,141 in the first nine months of 2020, a 62% decrease from EGP 30,168,761 in the prior-year period.

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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