Cairo – Mubasher: Arab for Development and Real Estate Investment (ADRI) on Thursday said it will receive a loan worth EGP 2.5 million from the National Bank of Egypt (NBE).

The loan will be used to finance the construction of a residential building.

The loan is guaranteed by leasing contract dated 4 December 2014 and signed by the company and NBE, Arab for Development and Real Estate Investment said in a statement to the Egyptian Exchange (EGX).

Arab for Development and Real Estate Investment last reported a 199% profit surge to EGP 2.19 million in the first quarter of 2018 compared to EGP 733,700 in the year-ago period.