Arab Development posts profit decline in 2021

Updated 2/7/2022 10:03:15 AM

ArabFinance: Arab Development and Real Estate Investment (ADRI) posted a net profit after tax of EGP 1.24 million for the full-year ended December 31st 2021, according to the company’s financial statement filed to the Egyptian Exchange (EGX).

This marks a growth from the net profit after tax recorded of EGP 1.16 million in 2020.

The company’s operating revenue amounted to EGP 5.41 million in 2021, down from EGP 8.22 million in 2020.

Launched in 2011 and listed on EGX in 2014, the company's operations are focused on real estate development. It has one subsidiary operating across Egypt, working on real estate investment trusts.