Orascom Development Egypt (ODE) is an integrated developer of resort towns in the Arab nation, has concluded the sale of its 87 percent equity stake in Tamweel Group for $21.4 million to Ebtikar for Financial Investment (Ebtikar) TCV1 and Acquire for Investment. Tamweel Group comprises four companies operating in mortgage finance, factoring, leasing, collection and […]
Tag Archives: Orascom Development Egypt
Orascom Development Egypt sells 2 hotels
Based-Switzerland’s Orascom Development Holding sells in the Royal Azur and Club Azur Hotels. Also, the firm, will sell a land plot in the Makadi area on the Red Sea to Meeting Point International for cash proceeds of EGP 408 million. “The sale was concluded at a higher enterprise value of c. EGP 856 million than the […]