ICEC

Misr Real Estate Assets’ revenues hit $16.2m in FY 2015/16

Misr Real Estate Assets’ revenues registered 127.5 million Egyptian pounds (US$16.2 million) in the first half of financial year 2015-2016, its parent company, Misr Insurance Holding announced Tuesday.

Gross profit recorded 75.2 million pounds during the first six months of FY 2015/16.

Misr Real Estate Asset Company was established in 2007 and governed by the public business sector companies’ law 203 of 1991 and its executive regulations. The company is affiliated to state-run Misr Insurance Holding Company.

Its main purpose is to manage, sell, rent, hire, construct and maintain all kinds of real estate and in general all types of investments in real estate assets.

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