The independent budget of MIHC
aims to achieve total revenues of EGP 2.4bn in 2019/20, up by 37.5%, then a net profit of EGP 2bn, realising growth of 42.4% against 2017/18.
As part of these plans, MIHC is preparing to accept bids to choose a real estate developer in order to develop a piece of land it owns in Gezirat Bodran on the Nile Corniche.
El Hini added that the project comes as the company turns towards the utilising of the assets of Misr Real Estate Assets (MREA), one of MIHC's subsidiaries.
He spoke of to the opportunities that await the insurance sector in Egypt, indicating that MIHC spares no effort in developing the insurance market in cooperation with the sector's important actors, foremost among them the Egyptian Financial Supervisory Authority (EFSA) and the Insurance Federation of Egypt (IFE).
Misr General Insurance (MGI) and Misr Life Insurance (MLI), both owned by MIHC, took in more revenue from premiums and made more payments on claims during recent months, which will shore up their credibility in the market.
The law prohibits their sale, and MIHC has to pay for expenses related to their maintenance.
MIHC's consolidated financial position is EGP 30 billion and its total investments are EGP 28 billion.
MIHC has also made great strides in its quest to establish a company to provide Takaful insurance, which meets the requirements of Islamic law.
El Hini suggested that the MIHC may move in this direction as the market conditions improve.
El Hini spoke of the effect of the reduced interest rates for banks on MIHC's investments.