The Marseilia Egyptian Gulf Real Estate Investment quarterly net profit after tax accounts for EGP 3.7 mn versus EGP 26 mn one year ago, Invest-Gate reports.
Quarterly sales account for EGP 84.5 mn versus EGP 166.9 mn. Last April, the Marseilia Egyptian Gulf Real Estate Investment signed an agreement with global hotel management company, Swiss-Belhotel International, to operate a new hotel in Sidi Abd El Rahman Bay on Egypt’s North Coast. The upscale four-star resort is expected to be completed in 2020.