COMPANY NEWS

Expiration of MoU with ODH

In May 2014, ERC announced the signing of a Memorandum of Understanding (MoU) with Orascom Hotels and Development (ODH) to acquire from Orascom majority stakes in 3‐4 hotels and a significant bank of undeveloped land located adjacent to Sahl Hasheesh. On 24 August 2014, this MoU expired as both parties did not reach a mutual agreement on the final terms of the deal.

Technicolor Beach Party

Hundreds of guests participated in the party we held over Eid al-Fitr. Talented entertainers from across Egypt, showcasing their skills with upbeat music and stunning fire shows, helped set the bar for successful future bashes.
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PROJECTS UPDATE

The Red Sea’s Premier Marina

Promising to be an active center of town life, Sawari (or ‘masts’ in Arabic), evokes the opulence of the ancient Red Sea, a vibrant trade route travelled by ships from all over the world. We are sparing no effort to ensure that Sawari becomes a complete luxury destination, catering to the needs of a discerning clientele.

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Post Office at Old Town

The number of tenants in Old Town, Sahl Hasheesh’s commercial and entertainment core, reached 57 at the end of 2013. Of the total rented shops 43 are now open, including a post office — a vital service for any community.

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FOR INVESTORS

    EGTS.CA Share price (LE): 1.04
    Date: 07/12/2016 . Time: 10:29:22

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    Sahl Hasheesh Magazine
    Issue 2