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MENA for Touristic and Real Estate Investment reported consolidated net profit attributable to the company of EGP 253,922 in the second quarter, while consolidated revenue stood at EGP 2.9 million. The figures were reported this week through a Reuters filing. MENA is an Egypt-based real estate company with activities spanning tourism, real estate investment, construction, project management and urban development. The company has been listed on the Egyptian Exchange since 1995 and has a long operating history in residential and tourism-related developments across Egypt and other regional markets.
MENA for Touristic and Real Estate Investment reported a consolidated net profit attributable to the company of EGP 253,922 for the second quarter. Consolidated revenue during the quarter stood at EGP 2.9 million, according to a Reuters report released this week.
The company, listed on the Egyptian Exchange under the ticker MENA, operates in the real estate sector, with activities covering tourism and real estate investment. MENA is based in Egypt and has been listed on the Egyptian Exchange since 1995.
MENA was established in 1987 and has activities linked to real estate investment and development. Its business background includes construction, real estate investment, project management and urban development. The company says it has developed and marketed more than 125 housing projects across Egypt, Sudan and Lebanon over the years.
The latest quarterly figures come as the company continues to operate within Egypt's real estate market, where developers and property companies have been managing costs, demand and financing conditions amid changing economic conditions.
Financial data available before the latest results showed that MENA had reported revenue of about EGP 25.38 million on a trailing 12-month basis, although those figures covered an earlier reporting period and should not be directly compared with the newly reported quarterly revenue.
The company has historically had a focus on tourism-linked and residential real estate activities. Its earlier development portfolio included housing projects and tourist developments, while its corporate profile also highlights work in urban development and project management.
Source Reuters
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