Marsa Masra Alam sells EGP 3.42M land

Updated 7/17/2022 12:28:00 PM

Arab Finance: Marsa Marsa Alam for Tourism Development (MMAT) has sold a piece of land in Marsa Matruh for EGP 3.418 million, according to a filing to the Egyptian Exchange (EGX) on July 17th.

The company noted that the deal’s value will have an impact on the financial statements for the period ending on September 30th.

It is worth noting that Marsa Marsa Alam’s net loss after tax rose to EGP 1.847 million in 2021 from EGP 1.381 million in 2020.

Marsa Masra Alam, formerly Marsa Alam for Touristic Development (MATD), a member of Kharafi Group, is an Egypt-based company that is engaged in the development and construction of different touristic communities and villages.