Upper Egypt Contracting expecting profit boost

21 October 2010

Upper Egypt Contracting (UEC) expects to triple its profit over the coming two years

Mokhtar el-Dahshoury, chairman of Upper Egypt Contracting (UEC), a builder of low-cost housing and hotels, expects to triple its profit over the coming two years as Egypt’s construction market grows, Reuters has reported. UEC expects net profit to increase in the fiscal year that began on July 1 to £E100-120m ($17.5m-21m) from £E69m in 2009/10. “We were in a recession in real estate but are heading towards a period when it will flourish,” he said.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications