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FINANCIAL NEWS
Wadi Degla to develop Magawish Resort at USD 0.17bn
20 Jun 2016
(MENAFN) Wadi Degla Developments signed a deal in order to develop the tourist resort Maawish in Hurghada at USD 0.17bn.
Furthermore, the total predicted revenues from the project amount to USD 0.25bn, while Misr Travel would gain USD 74.76mn of sales income.
Additionally, Wadi Degla Developments has paid USD 5.57mn after signing the agreement, whereas cheques amounted to USD 44.63mn.
The project has been divided into two parts; the development of all existing facilities and units inside the village and the construction of new buildings.
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