Press Releases
The following press releases include our most recent company statements. They may be read on screen, by clicking on the title, or downloaded to you local machine by right-clicking the link and choosing “Save Target As”. (Requires Adobe Acrobat Reader)
ERC and Nikki Beach Hotels and Resorts Sign MOU for Management and Operation of a Boutique Hotel in Sahl Hasheesh’s SAWARI Marina
October 18, 2011ERC, Egypt’s leading master developer of mega-communities, announced today that it has signed a memorandum of understanding (MOU) with Nikki Beach Hotels and Resorts for the operation and management of a 100-room boutique hotel to be built at Sahl Hasheesh, ERC’s unique, purpose-built Red Sea destination. Read More
Download PDFERC Resumes Operations Following Recent Events in Egypt
February 08, 2011ERC resumed normal operations on Sunday, February 6, 2011, at its Cairo headquarters in the wake of disruptions stemming from recent events in Egypt. Read More
Download PDFERC Announces Appointment of New Chairman, Dr. Samir Makary
July 08, 2010Leading by example in corporate governance practices, Mr. Mahmoud Abdallah nominates industry veteran Dr. Samir Makary, who crafted one of the first feasibility studies for Sahl Hasheesh in the 1990s, to become chairman of Egypt’s largest master developer of mega resort communities… Read More
Download PDFLeading Global Developer Orascom Development Holding to Develop Sahl Hasheesh Marina, Takes Equity Stake in ERC
April 29, 2010The Marina, a critical strategic asset for the Red Sea resort city of Sahl Hasheesh, will open a significant recurring revenue stream for ERC and create value for existing sub-developers… Read More
Download PDFKey Leadership Changes
January 24, 2010ERC announces personnel changes at the Chairman and Chief Executive Officer positions, as well as changes to the composition of the Board committees… Read More
Download PDFBoard Selects WATG as Sahl Hasheesh Phase III Masterplanner
January 24, 2010The ERC Board of Directors selects WATG for exclusive negotiations on the Sahl Hasheesh Phase III master plan… Read More
Download PDFNew Team to Lead ERC through Next Phase of Development
August 14, 2008ERC announces the year’s changes in Management, drawing on talented industry veterans to lead the company through its second decade… Read More
Download PDFStock Dividend Distribution
August 12, 2008ERC announces an increase in the Company’s issued capital from EGP 840 million to EGP 1,050 million through a free share dividend of 1 for every 4 at the par value of EGP 1 per share… Read More
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