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Gulf Canadian Real Estate reports 4% loss increase

Gulf Canadian Real Estate reports 4% loss increase

ArabFinance:  Gulf Canadian Real Estate Investment (CCRS) posted a 3.6% Year on Year slight rise in its loss in Quarter one (Q1) of 2020, according to the Egyptian Exchange’s disclosure.

Net loss stood at EGP 236,592 in Q1 2020, compared to EGP 228,179 incurred in Q1 2019.

In late April, the company received a purchase offer worth EGP 15 million from United For Real Estate Development to buy its 1,400-square-meter commercial mall located in Ain Shams suburb in Cairo.

The listed company specializes in developing and managing real estate assets. Its main activities are related to construction projects in housing, tourism, and urban development sectors, as well as industrial projects and other related fields.

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