Adel Murrad, investor relations manager, El Wadi Touristic Investment announced that 30.35%-owned subsidiary Golden Coast Company is planning to build a new hotel in its village in Ain Sokhna.
Golden Coast has not completed a study of the project’s details or set the investment cost of the new hotel, the official told Al Mal gazette.
Golden Coast is currently marketing the remaining chalets in phases one and two in its Ain Sokhna village. It is also seeking to complete the construction works in phases three and four this year, Murrad said.
Chalets sales helped the company’s H1 revenues rise 6.30% to EGP 4.912 million, compared with EGP 4.621 million in the same period a year earlier, according to the official.