Arab Company for Land Reclamation's lifetime extended until 2045
Updated 5/10/2020 12:51:32 PM
ArabFinance: Arab Company for Land Reclamation’s (EALR) extraordinary general assembly approved extending the company’s lifetime for 25 years starting July 3rd until July 2nd 2045, according to the company’s May 10th statement filed to the Egyptian Exchange.
On May 9th, the company's ordinary general assembly ratified the budget for the fiscal year (FY) 2020/2021.
The company targets net profit before tax of EGP 1.061 million and revenues of EGP 113.741 million for FY 2020/2021.
Arab Company for Land Reclamation is an Egypt-based public shareholding company that operates in the engineering and construction sectors. The company is active in land reclamation and division; real estate purchase, sale, and development; housing development and management of coastal, inland and agricultural properties, and general contracting in the coastal and desert areas.
