Cairo – Mubasher: The board of directors of El Kahera Housing approved a funding agreement worth EGP 580 million with Abu Dhabi Islamic Bank – Egypt (ADIB Egypt).

The funding will be used for the payment of all dues owed to financial leasing companies regarding financing Point 90 Mall, owned by El Kahera Housing, under a seven-year loan agreement, according to a statement to the Egyptian Exchange (EGX) on Thursday.

It is noteworthy that during the January-September period of 2019, El Kahera Housing’s net profits fell to EGP 85.18 million from EGP 356.8 million in the corresponding period a year earlier, including minority shareholders’ rights.