Arab Finance: Real Estate Egyptian Consortium (AREH) has turned to profitability in the full-year ended December 31st 2022, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on May 8^th.

The company registered net profits after tax of EGP 12.136 million in 2022, versus net losses of EGP 14.366 million in 2021.

Moreover, the company has generated operating revenues of EGP 30.188 million last year, up from EGP 12.986 million in 2021.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector.

The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.

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