Mayar Holding Company announces that one of its subsidiary companies, “Egypt Gulf Elevators & Escalators Co” has signed two contracts to supply and install elevators in the Arab Republic of Egypt with Total Air Projects Company to implement them within twenty-four months.

Mayar Holding Company announces that one of its subsidiary companies, “Egypt Gulf Elevators & Escalators Co” has signed two contracts to supply and install elevators in the Arab Republic of Egypt with Total Air Projects Company to implement them within twenty-four months.

Element List

Explanation

Introduction

Mayar Holding Company announces that its subsidiary, “Egypt Gulf Elevators & Escalators Co” has signed two contracts to supply and install (1,200) elevators in the Arab Republic of Egypt, so that Egypt Gulf Elevators & Escalators Co will supply and install within twenty-four months.

Date of Announcement of the Award

2024-03-12 Corresponding to 1445-09-02

Contract Subject Matter

Supplying and installation 1200 elevators in the Arab Republic of Egypt within twenty-four months.

The Entity with Which the Contract was Signed

Total Air Projects Company

Date of Signing the Contract

2024-03-12 Corresponding to 1445-09-02

Contract Value

840 million Egyptian pounds, excluding value-added tax

Contract Details

Egypt Gulf Elevators & Escalators Co will be supplies and installs (1,200) one thousand and two hundred elevators with twenty-four months.

Contract Duration

Twenty-four months

Financial Impact and the Relevant Period

The financial impact of this will be positive in the long term, and it is expected that the financial impact on the financial results of Mayar Holding Company will begin as of the second quarter of year 2024G.

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