»» Randa El Menshawy: Presidential directives will serve as the framework for the company’s action plan in the coming period
»» “The Arab Contractors” is one of the important entities assisting in the implementation of the state’s plans to achieve economic growth and enhance Egypt’s image abroad
Eng. Randa El Menshawy – Minister of Housing, Utilities and Urban Communities, chaired this morning the General Assembly of The Arab Contractors, during which the company’s financial statements for fiscal year 2024/2025 and the draft planning budget for fiscal year 2026/2027 were approved.
During her address at the Company’s General Assembly meeting, Eng. Randa El Menshawy affirmed that the Presidential directives will serve as the overarching framework guiding the Company’s action plan in the coming period. Foremost among these directives is the launch of a new social protection package during the current fiscal year, aimed at improving citizens’ living standards and enhancing their quality of life. The directives also include the allocation of additional funding to complete the first phase of the “Decent Life” initiative, as well as the development of a comprehensive plan for each entity outlining specific targets, implementation measures, timelines, required funding, and key performance indicators. These plans will be subject to continuous monitoring and evaluation to ensure effective on-ground execution of projects. The minister further emphasized the importance of advancing government performance through a strong team-oriented approach, fostering coordination and alignment among the various entities to ensure coherence in roles and responsibilities and to maximize overall efficiency and impact.
The Minister noted that, with regard to the overall economic situation, Egypt’s economic climate has witnessed tangible improvement in key macroeconomic indicators in recent months, enabling the government to launch the new social protection package. This reinforces confidence in the State’s ability to fulfill its social commitments. Inflation indicators have also shown noticeable decline during the current period. The government remains committed to advancing the State Ownership Policy through concrete steps and to increasing private sector participation across various economic activities.
The Minister affirmed that the Egyptian State will continue pursuing policies aimed at maintaining macroeconomic stability, accelerating economic growth, controlling inflation rates, and strengthening the social safety net to provide maximum protection for the most vulnerable groups. This requires continued implementation of housing and infrastructure projects, as well as rural development under the Presidential “Decent Life” initiative, which seeks to enhance living conditions in rural areas. The State has also commenced projects promoting sustainability, including renewable energy, desalination, safe waste disposal and recycling, and environmentally compliant initiatives.
Eng. Randa El Menshawy added that the Arab Contractors is one of the key entities supporting the implementation of these national plans and continues to play an important role in enhancing Egypt’s image abroad through executing development projects across African and Arab countries. Accordingly, the company must continue empowering its qualified young professionals and efficiently leveraging its capabilities to maintain its leading position in a dynamic, risk-prone, and rapidly evolving environment. The company possesses extensive expertise and a distinguished track record of achievements.
The Minister of Housing noted that the Arab Contractors Company contributes to job creation, employing approximately 56,900 workers. She emphasized the importance of maximizing the utilization of these human resources and commended the company’s efforts to improve its performance, increase its revenues, and maintain its leading position both domestically and internationally.
Eng. Randa El Menshawy also affirmed the state’s commitment to the company’s continued success and sustainable growth, recognizing it as one of the most important state-owned companies in implementing national projects throughout the country’s successive economic and social development plans.
During the meeting, the company’s results for fiscal year 2024/2025 indicated the completion of 66 projects. The value of executed works grew by 1.11% compared to the previous year, reaching EGP 48.343 billion, generating a gross operating profit of EGP 2.227 billion and a net profit of EGP 1.404 billion. The company also fulfilled its obligations toward the State.
The results further showed an increase in total shareholders’ equity, reaching EGP 14.336 billion as of 30/6/2025 (before distribution), compared to EGP 13.806 billion the previous year, reflecting growth in public equity within the company. The company has also continued increasing its paid-in capital from retained earnings. During today’s session, a proposal was presented to increase the paid-in capital by EGP 1 billion this year, bringing the total paid-in capital increases over the past 5 years to EGP 3.500 billion—without imposing any burden on the State budget. In addition, the company repaid EGP 60.563 million in government bonds and increased its issued and paid-in capital by EGP 1 billion from retained earnings.
As of 30/6/2025, the company’s total backlog of contracts stood at EGP 166.495 billion, of which EGP 69.533 billion relates to abroad branches, representing 41.8% of the total contract volume.
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