Forecasting Real Estate Financing

AL OULA REAL ESTATE FINANCING CHAIRMAN
Maged El Din Ibrahim forecasted at the company’s last assembly that the value of financing contracts will reach LE350 million by the end of 2008.

Ibrahim revealed that during 1Q2008, the company signed real estate financing contracts worth LE 70 million. Last year was agood one for Oula Real Estate as it recorded an 161% increase in net profits.

The Company’s paid-in capital is LE321 million, with a 31% majority stake owned by the New Residential Community Authority.