Samcrete for Real Estate Development have turned their losses into profits in the third quarter of 2016, recording a total profit of EGP 3.15 mn within three months, compared to last year’s EGP 514,200, according to a financial statement released on Sunday, reported Mubasher.

The company recorded a total of EGP 3.93 mn in profits in the first nine months of 2016, and total revenues of EGP 694.15 mn, compared to last year’s revenues that amounted EGP 447.3 mn.

Samcrete has plans to develop residential units in its Pyramids Heights project located in 6th of October City at a cost of EGP 1.2 bn and an office space area at a cost of EGP 2 bn, the company’s Chairman Hisham El Kheshen stated previously.

The company is also getting prepared to offer three tenders for 100 buildings, 60 villas, and infrastructure projects at a cost of EG 60 mn.