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Gulf Canadian Real Estate announces new shareholding structure

Gulf Canadian Real Estate announces new shareholding structure

ArabFinance:  Gulf Canadian Real Estate Investment (CCRS) stated that its shareholder Mohamed el Mawi reduced his stake from 20.576% to 19.576% in the company, according to the company's July 14th statement filed to the Egyptian Exchange.

El Mawi sold 50,000 shares at EGP 26.20 per each, with a total amount of EGP 1,310,098.

The company suffered a net loss of EGP 236,592 in Quarter one (Q1) of 2020, a 3.6% slight rise from 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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