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Gulf Canadian Real Estate H1 loss widens

Gulf Canadian Real Estate H1 loss widens

ArabFinance: Gulf Canadian Real Estate Investment Company (CCRS) reported an 11% Year on Year rise in its net loss in the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.

Net loss stood at EGP 458,794 in H1 of 2020, compared to EGP 413,688 incurred in H1 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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