ArabFinance: Cairo Housing and Development Company’s (ELKA) board of directors approved the sale of its administrative building in Nasr City with EGP 150 million, according to the company’s statement filed to the Egyptian Exchange.
The building's book value amounts EGP 19 million with net profit EGP 131 million.
The company reported a consolidated net profit before minority interest of EGP 51,785,068 in the first half (H1) of 2020, 11% decline from EGP 58,291,882 achieved in H1 2019.
Cairo Housing is an Egypt-based company engaged in real estate and housing development operations.
The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities.
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