Cairo – Mubasher: New Urban Communities Authority (NUCA) has approved the allocation of an 81-feddan land plot to Cairo For Investment and Real Estate Development to establish a private university in Nasser City in west Assiut.

Cairo For Investment and Real Estate Development has paid EGP 43 million or 15% of the value of the land in advance to NUCA, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday. 

From September 2018 to February 2019, the company’s net profit rose to EGP 148.43 million from EGP 113.95 million in the year-ago period.

Revenues increased to EGP 424.09 million in the six-month period ended 28 February, compared to EGP 320.62 million in the same period a year earlier.

 As for standalone business, the company logged a profit of EGP 35.59 million at the end of February from EGP 27.24 million in the corresponding period a year ago.