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Gulf Canadian Real Estate approves sale of 6th of October City land portfolio

Updated 8/4/2026 11:46:00 AM
Gulf Canadian Real Estate approves sale of 6th of October City land portfolio

Arab Finance: Gulf Canadian Real Estate Investment (CCRS) has approved the sale of its land portfolio in New 6th of October City, comprising 15 plots, according to a bourse filing.

The company’s shareholders approved the decision during the ordinary general meeting (OGM) on April 27, 2026.

The plots were sold for EGP 3 million each, generating total proceeds of nearly EGP 45 million.

The transaction is expected to deliver a profit margin of around EGP 33 million, representing a return of 279%.

Meanwhile, the company is completing the contractual procedures related to the sale with the buyer.

In the first quarter (Q1) of 2026, the EGX-listed company turned profitable at EGP 1.998 million, versus net losses of EGP 168,386 in Q1 2025.

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