Arab Finance: Al Shams Housing and Urbanization (ELSH) has reported a 178.36% year-on-year (YoY) increase in net profit after tax during the first quarter (Q1) of 2023, registering EGP 48.50 million, compared to EGP 17.424 million, according to financial statements filed to the Egyptian Exchange (EGX) on May 28^th.

Revenues rose to EGP 110.286 million during the first three months of this year, compared to EGP 50.184 million during the January-March period of 2022.

Al Shams Housing is primarily focused on the purchase and lease operations of lands for the purpose of developing, managing, selling, and leasing out property and buildings, as well as offering contracting, construction, maintenance, and management services to residential, touristic, and administrative structures.

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