The Egyptian Real Estate Group’s (AREH) financial results show that the company has recorded net profits worth EGP 10.4m in the first nine months of the current year, the company revealed in an official statement to the Egyptian Stock Exchange (EGX) on Sunday.

The figure compares to the EGP 8.9m in profits that were recorded by the group in the same period the preceding year, marking a 17% increase with this year’s rise in profits.

Further, according to previous statements by the company, the group’s independent financial indicators for the third quarter that ended in September have shown a 16.97% increase in profits when compared to the same period the year before.

The Egyptian Real Estate Group’s capital is currently equivalent to EGP 75.3m, distributed over 7.5m shares, with a nominal value of EGP 10.

The group works in the construction of real estate units, hotels and other residential related projects.