Cairo – Mubasher: The board of directors of Arab for Development and Real Estate Investment (ADRI) has approved an offer to sell a land plot for EGP 4.10 million.

Extending over an area of 566,670 square metres, the land is located at South Suez Road and will be sold to an investor, according to a bourse statement on Tuesday.

During the first nine months (9M) of the current fiscal year (FY), Arab for Development registered net profits of EGP 1.21 million, compared to EGP 1.87 million in the year-ago period.

In the meantime, the company’s revenue stood at EGP 4.37 million during the nine-month period of this FY, down from EGP 7.99 million in the same period a year earlier.