The board of National Real Estate Bank for Development (NRPD) approved a feasibility study on the construction of a shopping mall in Al-Raml, Alexandria, in cooperation with a major local bank.
The project’s total selling value is estimated at around EGP 760 million, while total costs reach EGP 340 million.
The board invited shareholders to attend an ordinary general meeting on Saturday, May 20, 2014.
In case of lack of quorum, the meeting will be rescheduled for Sunday, May 11, 2014.
The company posted EGP 15.943 million net profit in FY13, compared with EGP 5.243 million net profit in FY12.