Mena Touristic & Real Estate Investment Co. announced, in a statement to the stock market, it revoked a partnership contract with Al-Diwan Co., dated December 3, for the establishment of an administrative building over an owned land plot spreading over 7.3 thousand sqm in Mena Garden City project.
The company added it signed a new contract with Eng. Ezzat Marie to sell the land plot for a total value of EGP 20.9 million.
The company’s ordinary general meeting had previously approved the land sale.
Mena had posted EGP 2.8 million loss in the first nine months of FY14.
Photo Credit: Arabianeye-Reuters