Cairo – Mubasher: The board of directors of Al Shams Housing and Urbanization approved a decision to enter into an agreement with the Egyptian Arab Land Bank (EALB) to sell a financial portfolio.
The board also agreed on resolving a dispute with Al Sedek Real Estate over 12 land plots in Gardenia El Shams project, the company said in a bourse disclosure on Tuesday.
Additionally, the board approved a decision to resume the payment for the company’s share in the capital of Real Marketing Company, amounting to EGP 180,000.
During the first half (H1) of 2021, the company achieved net profits of EGP 53.74 million, down from EGP 73.6 million in H1-20.
The revenues fell to EGP 132.36 million in the January-June period, compared to EGP 147.4 million in the year-ago period.
