Cairo - Mubasher: The board of directors of Marseilia Almasreia Alkhalegeya Real Estate Investment approved submitting its disclosure form to proceed with the capital raise procedures. 

The decision includes increasing the company's authorised capital to EGP 360 million from EGP 150 million, the property developer said in a bourse disclosure on Thursday. 

During the first quarter (Q1) of 2021, Marseilia Almasreia Alkhalegeya Real Estate Investment achieved net profits of EGP 1.01 million, up from EGP 251,181 in the year-ago period.