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Egyptian Arab Land Bank (EALB) recorded total assets of about 3.6 billion Egyptian pounds at the end of April 2017 versus 3 billion pounds at the end of the last financial year.
EALB, which is a state-owned lender specialising in real estate investments, sold units worth 400 million pounds during the first 10 months of the current financial year, the bank’s chairman Abdel Meguid Mohy El-Din told Amwal Al Ghad.
The bank has received Lounge Beach resort in Ain Sohkna and will decide either selling it to an investor or through retail sale system.
