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Egypt’s state-run El Shams for Housing and Development expects a 30 percent drop in its profits to reach 150.36 million Egyptian pounds ($8.5 million) in 2019.
Profits earlier increased to 215.26 million pounds during 2018.
During the January-September 2018 period, profits rose to 170.7 million pounds from 48.4 million pounds during the same period in 2017.
Moreover, the company plans to invest 90 million pounds in a new project in 6th of October City and 182.38 million pounds in another flagship in the country’s New Administrative Capital.
