Cairo – Mubasher: National Real Estate Bank for Development nears finishing number of projects worth EGP 150 million.

The company implements the projects for the armed forces and the Ministry of Interior, said a bourse filling.

The company is to deliver a residential project in Haikstip at EGP 43 million, three schools in city of Damanhour as well as a project worth EGP 26.2 million at Burj Al Arab, within time interval of three months.

Meanwhile, firm is expected to finish off a project worth EGP 21.2 million at Ras Sudr through the same time interval.

The real estate developer seeks to boost its market share in the Egyptian market through increasing the number of contracts and taking part in implementing the social housing projects.

The Egyptian listed firm saw a decline of 43.2% in net profits for the first quarter of 2015, as it reached EGP 1.8 million.