Egypt’s El Shams Housing 9-month profits rise 27.6%

Egyptian state-owned El Shams for Housing and Development Company said Sunday that its profits jumped by 27.6 percent, recording 48.35 million Egyptian pounds ($2.7 million) during the first nine months of 2017.

Profits earlier stood at 37.9 million pounds during the first nine months of 2016.

Moreover, the company has sold 16 land plots over 8,521 square metres out of total 26 land plots in Sixth of October City.

El Shams Housing was established 1946 with the purpose of leasing properties in Cairo and Alexandria and later on expanding its activities in real estates and urban development.