El Shams Housing’s board initially approves 50 faddans purchase in Egypt new capital

Egyptian state-run El Shams for Housing and Development Company revealed Sunday that its board member has agreed in principle to purchase 50 feddans in the county’s new administrative capital.

The company further added that the board also initially approved to sell 24 land plots in Sixth of October City.

During the first nine months of 2017, El Shams’ profits rose by 27.6 percent to reach 48.35 million Egyptian pounds ($2.7 million) from 37.9 million pounds during the same period in 2016.