Cairo – Mubasher: Target For Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development has lowered its stake in Real Estate Egyptian Consortium to 1.75% from 5.93%. 

The transaction involved the sale of 9.69 million shares for EGP 58.05 million, averaging EGP 5.98 per share, according to a bourse disclosure on Monday. 

During the first quarter (Q1) of 2021, the company logged net profits of EGP 8.02 million, up from EGP 5.4 million in Q1-20. 

The sales increased to EGP 10.57 million in Q1-21 from EGP EGP 7.36 million in Q1-20.