ArabFinance:  Arab Company for Land Reclamation (Arclam) (EALR) will be rehabilitated in order to pay off all its debts by schedule some and drop others, according to Arclam’s statement filed to the Egyptian Exchange.

Earlier, Holding Company for Land Reclamation and Ground Water Research announced that it will rehabilitate and restructure its subsidiaries.

Arclam will coordinate with its holding company to participate in national projects. The listed company's ordinary general assembly approved the budget for the fiscal year 2021/2022, targeting a net profit of EGP 1.950 million.

Arclam 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.