ArabFinance: Mena for Touristic and Real Estate Investment (MENA) will study a capital hike proposal in order to accomplish its current and future projects, according to the company's J16th  statement filed to the Egyptian Exchange.

During the July 20th meeting, the board of directors approved preparing a feasibility study for the capital hike and invited the ordinary general meeting to meet and discuss the matter. 

The company reported a consolidated net loss of EGP 6,227,080 in Quarter one (Q1) of 2020, a 19% increase from EGP 5,218,616 incurred in Q1 2019.

Standalone net loss reached EGP 2,764,662 in Q1 2020, compared to EGP 3,089,082 incurred in Q1 2019.

Mena is an Egyptian incorporated company established in 1980. It operates in the fields of construction, real estate investment, project management, and urban development both locally and internationally. During the past 30 years, Mena has developed and marketed more than 125 unique housing projects in Egypt, Sudan & Lebanon through its wide offices' network in Egypt, UAE, Saudi Arabia, Lebanon, and Sudan.