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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 shareholder Muhammad el Mawi reduced his stake from 15.386% to 14.292%, according to the company's September 2nd statement filed to the Egyptian Exchange.

El Mawi sold 54,653 shares at EGP 38.608 per each, with a total amount of EGP 2,110,068.

The company suffered a net loss of EGP 458,794  in the first half (H1) of 2020, an 11% rise from EGP 413,688 incurred in H1 2019.

In late April, Gulf Canadian Real Estate received a purchase offer worth EGP 15 million from United For Real Estate Development to buy the former's 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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