Egypt’s state-run Zahraa Maadi 2017 sales fall by 10%

Egyptian state-owned Zahraa Maadi Investment and Development Company’s sales dropped by 10 percent to 160 million Egyptian pounds ($9 million) during 2017, announced financial statements on Thursday.

Sales earlier increased to 177.8 million pounds during 2016.

Founded in 1980, Zahraa Maadi is a public shareholding company engaged in real estate development, construction, contracting, urbanisation, housing, and tourism as well as other investment activities.