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Arab for Development sells land plot in 5th Settlement

Arab for Development sells land plot in 5th Settlement
Photo Credit: Reuters

Cairo – Mubasher: Arab for Development and Real Estate Investment sold one third of the kand located in the Fifth Settlement, area no.94, at EGP 3.3 million, said the company in a bourse filing Tuesday.

Earlier, the company bought a land plot for EGP 8.33 million, located at the 5th settlement, and sold another for EGP 5.4 million at Benha City.

Earlier, the company reported an increase of 20.6% y – o- y in its net profits for the second quarter of 2016, as its profits reached EGP 440,000.