Al Fanar attributed the loss to the coronavirus repercussions on its business operations, the statement added

In 2019, the company posted a net profit of EGP 1,260,770, a 29% profit decrease from EGP 1,769,223 achieved a year earlier.

Al Fanar was established for the purposes of general contracting, construction, trade, import, and export, in addition to land reclamation and land division.