Cairo-Mubasher: Orascom Hotels and Development said its subsidiary Roiaa Group for Real Estate Investment and Tourism has signed two contracts with an investor in Makadi project.

The company said in a bourse statement that the contracts are to manage and operate all malls in Makadi project, in addition to allocating 38,000 square metres of land for establishing the club.  

Orascom develops 36.65 million square metres of land and provides the project with the necessary facilities and infrastructure.   

The company operates with EGP 1.1 billion in capital, divided into 221.9 million shares at a par value of EGP 5 each.