Egypt's Remco allocates $3.19mln to complete Stella Di Mare works

Remco operates in tourism and entertainment projects development and construction

  
Workers wearing protective face masks stand on a building under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

Workers wearing protective face masks stand on a building under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

REUTERS/Mohamed Abd El Ghany
Egypt - Remco for Tourism Villages Construction's (RTVC) ordinary general assembly approved to complete construction works of Stella Di Mare Village with EGP 50 million, according to the company’s statement released on June 13th.

Remco incurred a consolidated net loss of EGP 443.394 million in 2020, against a net profit of EGP 218.321 million achieved last year.

Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.

The company acquires plots of land, designs the development, sells individual units, and retains ownership of public areas such as hotels, landscaped areas, housing complexes, beaches, and water and sewage treatment plants.

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