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Gulf Canadian Real Estate hasn't received lands in 6th of October

Gulf Canadian Real Estate hasn't received lands in 6th of October

ArabFinance: Gulf Canadian Real Estate Investment (CCRS)said it has not delivered 20 land plots located in 6th of October City from the New Urban Communities Authority (NUCA), according to the company's September 2nd statement filed to the Egyptian Exchange.

This statement came in response to the EGX's inquiry about the causes of not generating revenues from 2017 till 2020.

In 2017, the company purchased 13,000 square-meter lands to establish a residential project.

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

Gulf Canadian Real Estate Investment 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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