Arab Developers turns to losses in 2022: Egypt

Getty Images

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio

Staff Writer, Arab Finance

March 7, 2023

PHOTO

Arab Developers Holding (ARAB) incurred consolidated net losses attributable to the parent company of EGP 17.305 million for the full-year ended December 31st 2022, versus net profits of EGP 91.627 million in 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on March 6th.

Moreover, the company generated consolidated revenues of EGP 849.195 million last year, down from EGP 1.105 billion in 2021.

Meanwhile, the company achieved a standalone net profit after tax of EGP 92.871 million in 2022, up from EGP 6.737 million in 2021.

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO