Cairo – Mubasher: The board of directors of Cairo for Investment and Real Estate Development (CIRA) approved the terms and conditions of the medium-term loan contract with Ahli United Bank.

Under the contract, the company will borrow EGP 375 million from the bank to finance the company's investment projects, according to a bourse disclosure on Monday. 

In the fiscal year (FY) ended 31 August, CIRA reported consolidated net profits of EGP 330.82 million, up from EGP 267.25 million in the previous year, including minority shareholders' rights.