Cairo – Mubasher: The board of directors of Egyptians for Housing and Development Co approved the merger of Emerald Real Estate Investment, Edge Development and Project Management, Emerald Development & Projects Management, Odin Investment & Development, and Odin for Investment and Real Estate Marketing into it.
The merger was concluded according to the book value as per the financial statements of the merging company and merged firms as of 31 December 2021 (Date of Merger), according to a stock exchange statement on Tuesday.
It is worth noting that in the first half (H1) of this year, Egyptians for Housing and Development recorded a net profit of EGP 11.53 million, compared to EGP 14.38 million in the year-ago period, including minority shareholders’ rights.
Meanwhile, revenues of the real estate developer came in at EGP 34.96 million in H1-22, up from EGP 34.59 million in H1-21.
