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The condensed financial statements of the company fund ... for the fiscal year ended 31/12/2024."

The condensed financial statements of the company fund ... for the fiscal year ended 31/12/2024." The auditor reviewed the financial statements of the Arab Direct Real Estate Investment Fund from January 1 to March 31, 2025. The report confirms the statements are fair and aligned with Egyptian accounting standards. It recommends referring to the full financial reports for comprehensive details. The report is signed by a certified public accountant and member of the Egyptian Society of Accountants.

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Statement of Financial Position – As of March 31, 2025

Title: Comprehensive View of the Fund’s Financial Position Summary: This statement outlines the fund’s financial position as of March 31, 2025, with total assets exceeding EGP 365 million. It covers financial investments, cash balances, and receivables. It also details equity and liabilities, reflecting the fund's relative stability compared to the previous year.

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Income Statement – For the Period Ended March 31, 2025

Title: Fund Performance in Q1 2025 Summary: The income statement reveals a significant drop in revenue to EGP 41.6 million, down from EGP 79.3 million the prior year. Net profit reached approximately EGP 39.8 million after expenses like management fees and audit costs. The performance reflects volatility in the real estate market.

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Cash Flow Statement – For the Period Ended March 31, 2025

Title: Cash Flows and Interim Dividends Summary: This statement shows that the fund faced negative cash flows of around EGP 1.6 million. Nevertheless, it distributed interim dividends totaling EGP 13.2 million, demonstrating commitment to investors. The report also includes details on securities purchases and operational expenses.

28/8/2024
An Egyptian factory to produce carbon black worth $ 60 million?

Egypt to launch USD 60 mn carbon black production plant: Egypt's Trade Representation Authority held a meeting with one of India's largest carbon black producers to agree to study a USD 60 mn factory in Egypt, according to a press release. This comes as part of a series of meetings held by ADFCA with representatives of a group of major Indian companies in the fields of green hydrogen, home furnishings, transport and tourism.

26/2/2024
UAE's Global Investment acquires 30% of Eastern Tobacco

New major shareholder joins Eastern Tobacco Co.: UAE's Global Investment Holding has acquired a 30% stake in Eastern Tobacco Company in a deal that will make it the largest single shareholder in the tobacco manufacturing company and give a boost to the government's privatization program, according to a Cabinet statement issued yesterday evening. The Emirati company will pay $625 million to the Holding Company for Chemical Industries for the stake, in a deal valued at more than $2 billion.

SODIC profits jump 164% in 2023

SODIC ends 2023 with a jump in profits: SODIC reported a net profit of EGP 1.4 bn in 2023, up 164% from 2022, according to the company's results statement (PDF). The company's revenues rose 32% year-on-year to EGP 10.33 billion, driven by growth in deliveries in East and West Cairo.

Bonyan expands its real estate portfolio by purchasing a building in the "Golden Gate" project

BONYAN buys building in Redcon's Golden Gate project: Bonyan Development & Trading Columbus Capital has signed an agreement to purchase a EGP 718 mn building at Redcon Properties' Golden Gate project in the Fifth Settlement, it was announced during a press conference yesterday. The building covers an area of 6.8 thousand square meters and will be allocated for administrative and commercial works. Enterprise attended the conference and spoke with Compass Capital Managing Partner Tarek Abdel Rahman, Redcon Chairman Tarek El-Gammal and Redcon Vice Chairman Ahmed Abdell.