ArabFinance:  Atlas for Investment (AIFI) has received the planning requirements for the plot of land located at 43 km on the Cairo-Alexandria Desert Road - Sheikh Zayed, with an area of around 12 acres, according to the company statement file to the Egyptian Exchange.

The new Urban Communities Authority determined the residential area will be 50% of the total land space for medium Vilas.

The company posted a consolidated net profit of EGP 389,484 in the first half (H1) of 2020, against EGP 1,997,744 incurred in H1 2019.

Earlier, the company decided to split the par value of its share from EGP 10 to EGP 1 with maintaining the issued and paid-up capital unchanged at EGP 65,128,540.

Atlas was established in 1997 and listed in 2012. It is a parent for another four companies focusing on real estate, farm development, and agricultural processing with a registered capital of EGP 60 million.