bursa escort ankara escort adana escort manavgat escort eskişehir escort malatya escort diyarbakır escort urfa escort şişli escort avcılar escort sarıyer escort şişli escort mecidiyeköy escort beşiktaş escort pendik escort maltepe escort ataşehir escort kadıköy escort çeşme escort konya escort beylikdüzü escort esenyurt escort ankara escort mezitli escort manavgat escort konya escort antalya escort diyarbakır escort esenyurt escort

RTVC to invest EGP 4bn in its Stella Di Mare II project

EGYPTRemco Touristic Villages Construction Company (RTVC) will begin implementing its new project, Stell Di Mare II, over 2m sqm with total investments worth EGP 4bn.

The real estate company has several touristic and residential projects in Cairo, the North Coast and Sharm El-Sheikh.

The company anticipated sales of EGP 5bn from the projects.

The project is located in Ain Sokhna, on the 45th km of Al-Zafarana Road/ Suez Road, close to Stella Di Mare I. The timeframe for finalising the project is three years.

RTVS registered a 109.7% increase in losses during the first three quarters of the current fiscal year (FY) in its consolidated financial statements compared to the same period last year.

The construction company’s losses totalled EGP 47m during this period compared to EGP 22.4m in the first three quarters of fiscal year (FY) 2014/2015.

The construction of new projects for medium- and high-income clients has taken the lion’s share of both public and private companies and investments over the past two years.

Palm Hills Development (PHD) and Madinet Nasr Housing and Development (MNHD) signed an agreement to develop a residential community in East Cairo.

PHD also agreed to cooperate with Reacap Financial Investments (REACAP), a subsidiary of Smart Village Real Estate Investment Company (SVREICO), to develop a residential and commercial area in 6 October City’s Smart Village.

In September, Sixth of October for Development and Investment Company (SODIC) won a bid of 31 acres of land in 6 October City.

The company plans to establish a residential project on the area.

February 15, 2016; http://www.dailynewsegypt.com/2016/02/15/rtvc-to-invest-egp-4bn-in-its-stella-di-mare-ii-project/

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.