Nest
NOAF
-23.08%
0.40
-0.12
NOAF
Cairo – Mubasher: North Africa Real Estate Investment (NOAF) said Thursday it will hold a board meeting on 28 June to discuss the sale of owned assets worth up to EGP 688.574 million ($90 million).
The board will look into selling a hospital and a school in New Cairo project at $50 million and $40 million respectively, according to the company.
The board will also discuss a share buyback.
The real estate investment firm earlier posted a 71.3% fall in Q1 net profit to EGP 754,400 ($98,800), down from EGP 2.6 million ($340,000) in the same period a year earlier.
Source:
Mubasher