Arabia Investments Holding aims to increase its business volume over the next three years by studying new investments in non-banking financial services with the aim of integrating its system.
The company is currently considering entering the field of real estate finance and insurance brokerage, as well as adding new services and products to its existing companies.
The company’s consolidated revenues in the first half (1H) of 2022 amounted to EGP 570m — a decrease of 28% from 1H 2021 due to the pressures that the markets are witnessing at the current stage.
The company’s net profit also decreased by 15.5% due to the exclusion of the profits of the Cairo Development and Automotive Industry Company and its inclusion as investments available for sale.
It added that its subsidiary — Rawaj Car Instalment — also witnessed an 85% decrease in its revenues due to the current economic conditions, bringing its revenues to about EGP 41m.
Furthermore, tt revealed that it is in the process of adding factoring services to Rawaj during the coming period, as well as expanding consumer finance activities in a broader way and not focusing only on car instalments to create an added value for the company.
Additionally, UI Finance — another subsidiary — seeks to focus on financing activities for small and medium enterprises during the coming period, in addition to expanding new branches in the cities and governorates of Egypt.
As for Kahromica, the subsidiary managed to seize a new project in the construction of the dual antenna line in Owainat that will be implemented at an investment cost of about EGP 166m and another project in October Gardens worth EGP 67m.
