Egyptian Kuwaiti Real Estate Investment Company
The company was incorporated in 2008 as an Egyptian shareholding company with capital of Egyptian Pounds 5,000,000 divided into 50,000 shares; the nominal value is E£ 10. The investors paid 10% of share value with International Commercial Bank.
The objectives for which the company is incorporated are:
- Establish and operate touristic villages and equip the same with utilities provided that their standard shall be minimum three star level with accommodation capacity of 200 hotel rooms and 300 chalets as well as supplementary services thereto as follows:
- (swimming pools, water falls, cafeterias, health clubs, spas, theaters, malls, electrical powered vehicles for guest transport and service, sanitary drainage water treatment plant, electricity power station, natural gas tanks, water sport games, diving centers.
- Housing in which units are entirely leased in vacant for non-administrative accommodation provided that the number of units shall not be less than fifty residential units whether in form of a single or several residential buildings.
- Educational services and establishment of schools