Egyptian Resorts expects Sahl Hashish dispute to be solved in Q1

Egyptian Resorts Co. (ERC) forecasts the dispute related to withdrawing the land of the third phase of Sahl Hashish project on the Red Sea Coast to be solved in the first quarter of 2014. Accordingly, the company is likely to swing to profit.

Mohamed Shawky, Investors Relations Manager, said that swinging to profit is contingent on land sales and strong sales in the company’s real estate projects such as Sawari and Jamran.