ArabFinance: Mena for Touristic and Real Estate Investment (MENA) incurred a consolidated net loss of EGP 11,582,117 in the first half (H1) of 2020, according to the company’s financial statements filed to the Egyptian Exchange.
In H1 2019, the company posted a net profit of EGP 13,645,923.
Standalone net loss reached EGP 5,379,383 in H1 2020, against a net profit of EGP 14,264,420 posted in H1 2019.
In July, the company announced that it was studying a capital hike in order to accomplish its current and future projects.
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.