logo

Egypt: Misr Hotels records 77.6% YoY profit surge in H1 FY2024/25

Zawya30-01-2025
Misr Hotels Company (MHOT) reported a 77.6% year-on-year (YoY) increase in net profits after tax for the first half (H1) of fiscal year (FY) 2024/2025, the firm disclosed.
The company earned EGP 763.935 million in net profits in the six-month period ended December 31st, compared to EGP 430.216 million in the corresponding period of 2023.
Moreover, the company generated revenues of EGP 935.211 million in H1 of FY 2024/2025, compared to EGP 577.907 million in the same half a FY earlier, with an annual growth of 61.8%.
Misr Hotels is an Egypt-based joint stock company engaged in tourism investment activities.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Saudi Arabia Authorises VistaJet as First International Private Jet Operator for Domestic Flights
Saudi Arabia Authorises VistaJet as First International Private Jet Operator for Domestic Flights

Filipino Times

time5 hours ago

  • Filipino Times

Saudi Arabia Authorises VistaJet as First International Private Jet Operator for Domestic Flights

Saudi Arabia's General Authority of Civil Aviation (GACA) has authorised Dubai-based VistaJet to operate domestic private jet services in the kingdom, marking the first time an international operator has been granted such rights. The move follows the lifting of cabotage restrictions for on-demand charter companies on May 1, allowing foreign-registered aircraft to conduct domestic flights within Saudi borders. GACA said the approval supports its Vision 2030 plan to transform the kingdom into a global aviation hub, while boosting competition, improving service quality, and attracting new investments. VistaJet, part of Vista Global Holding founded by Swiss billionaire Thomas Flohr, has been serving Saudi Arabia for more than 15 years on international routes. The company reported a 32% year-on-year rise in programme members in the kingdom during the first half of 2025. 'Given the nature of Vista's fully owned floating fleet, the company is best positioned to offer immediate private aviation services throughout the kingdom,' VistaJet said in a statement. With its long-range Global 7500 and soon-to-arrive Global 8000 jets, clients will also be able to fly non-stop to destinations worldwide directly from Saudi Arabia. The kingdom aims to grow the general aviation sector's contribution to GDP to 7.8 billion riyals ($2.08 billion) and create 35,000 jobs by 2030. Last year, Saudi Arabia's business jet sector recorded a 24% jump in flight volumes, underscoring strong demand from wealthy tourists, corporate travelers, and government officials.

Egypt plans new submarine power cable to Jordan: report
Egypt plans new submarine power cable to Jordan: report

Zawya

time5 hours ago

  • Zawya

Egypt plans new submarine power cable to Jordan: report

Egypt is planning to build another submarine power cable to Jordan with a capacity of 2,000 megawatts (MW) to supply electricity to Syria, Iraq and Lebanon, a Saudi news network reported on Tuesday. The project will be completed in 2029 and will quadruple the present power supply to Jordan, Asharq Business said, quoting an Egyptian government source. 'Egypt is planning to export electricity to Iraq, Syria and Lebanon via a submarine cable to Jordan with a capacity of 2,000 project is still under study,' the report said. It added that the new cable would start from Taba town in South Sinai and stretch to the Gulf of Aqaba on the Red Sea. The project is expected to be completed within 30 months, the report said, noting that Egypt is preparing to invite consultancy bids for the project. According to the report, Egypt is already linked to Jordan via a 500 MW capacity submarine cable which was built in 1999. Construction is underway on a 3GW interconnection project between Egypt and Saudi Arabia at an estimated cost of $1.8 billion (Writing by Nadim Kawach; Editing by Anoop Menon) (

Cityscape Egypt 2025 launches first-ever international pavilion to welcome global developers
Cityscape Egypt 2025 launches first-ever international pavilion to welcome global developers

Zawya

time5 hours ago

  • Zawya

Cityscape Egypt 2025 launches first-ever international pavilion to welcome global developers

Cairo, Egypt: Cityscape Egypt 2025, taking place from September 24th to 27th, is introducing its first International Pavilion to actively support cross-border investment and regional exchange. This expansion is a strategic move that supports Egypt's national agenda to strengthen the real estate sector. The pavilion will provide a platform for global developers to connect directly with Egyptian investors and industry leaders, reflecting the growing trend of capital flowing between countries. Building on this international focus, Cityscape Talks will also feature a dedicated panel discussion covering top destinations in real estate. The session will be held on September 26 from 15:45 to 16:30 pm. The discussion will offer expert insights into where and how to invest, with Ahmed Abbassi, CEO and Founder of Greca Group, sharing his perspective on international market dynamics and what investors should look for. "We are incredibly proud to introduce the first International Pavilion at Cityscape Egypt 2025," said Robier Daniel, Cityscape Egypt Exhibition Director. "This new addition is a direct response to the market's evolution, where cross-border investment is becoming increasingly vital. The pavilion will serve as a dynamic hub, facilitating crucial connections between international developers and Egyptian investors, thereby creating new opportunities and further solidifying Egypt's position as a regional real estate leader." Welcoming a new wave of international participants, the pavilion will feature leading developers from across the globe. Among them are: DAMAC Properties, one of the leading luxury real estate companies in the UAE. Known for its upscale residential, commercial, and leisure properties, DAMAC is bringing to Cityscape a portfolio that reflects its strong presence in Dubai and other global markets, offering Egyptian and regional buyers access to high-end developments in attractive destinations. Greca Developments, representing Greece through the Greca Group, will also be featured in the International Pavilion. The company specializes in creating modern, energy-efficient homes across prime locations in Europe. With a focus on sustainable design and long-term investment value, Greca aims to tap into the growing interest among Egyptian investors in acquiring properties across the Mediterranean. From Oman, Wujha Real Estate brings a fresh perspective to the event. With a reputation for developing integrated communities that blend modern living with cultural authenticity, Wujha is showcasing its innovative residential offerings that appeal to both lifestyle buyers and investors looking for stable, long-term returns in the Gulf region. Keller Williams, through its Golden Visa Consultancy New Life Team, will also be featured in the International Pavilion. With over a decade of real estate experience across Istanbul, Bodrum, Athens, and Larissa, their team specializes in Golden Visa projects in Athens, Thessaloniki, and Larissa, offering Egyptian investors opportunities to secure prime properties. Cityscape's expansion into international territory comes at a time when the real estate landscape is undergoing a shift, one where borders are becoming more fluid, capital is more mobile, and investment strategies are more globally minded. With the International Pavilion, Cityscape Egypt 2025 cements its role not only as a showcase of the local market but as a regional hub for forward-looking investment.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store