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Gulf Canadian Real Estate sees changes in shareholding structure

Gulf Canadian Real Estate sees changes in shareholding structure

ArabFinance: Gulf Canadian Real Estate Investment (CCRS) stated that Mamdouh al-Mawi cut his stake in the company capital from 15.48% to 13.95%, according to the company's September 22nd statement filed to the Egyptian Exchange.

Al-Mawi sold 76,250 shares at EGP 68.131 per each, with a total amount of EGP 5,195,000.

In early September, the real estate company said it has not delivered 20 land plots located in 6th of October City from the New Urban Communities Authority (NUCA).

The 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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