Cairo – Mubasher: The Misr City Housing and Development Company issued an explanatory statement regarding the approval to return ownership of Azza Al-Hagana’s land to the Cairo Governorate as a community contribution.
The company confirmed, in a statement to the Egyptian Stock Exchange today, that the 634-acre land previously allocated to the company is not one of the company’s new projects, “Taj City and Saray.”
She indicated that the association agreed in December to return ownership of the Ezbet Al-Hagana land as a community contribution from the company to rehabilitate the area in a way that achieves the interests of the company and the residents of the area.
She confirmed that Republican Decree No. 38 of 2024 regarding land will not affect the company’s land area with the new expansions of “Taj City and Saray.”
It is noteworthy that Misr City for Housing and Development achieved profits after tax (for the parent company) amounting to 1.35 billion pounds during the period from January to September 2023, compared to profits amounting to 534.2 million pounds in the comparative period of 2022, taking into account minority rights.
The company’s sales increased during the first nine months of this year to 4.62 billion pounds, compared to sales amounting to 3.08 billion pounds in the comparative period last year.
As for the unconsolidated lists, the independent company’s profits increased during the period from January until the end of last September to 1.35 billion pounds, compared to about 544.97 million pounds during the comparative period a year ago.
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2024-02-21 10:49:14
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