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.