ICEC

EALB bank divests 224 assets worth 900 mln pounds in 3 months

Egyptian Arab Land Bank (EALB) has succeeded in selling  224  assets owned by the bank during the period between January and March 2018, Chairman Amr Kamal said.

He told Amwal Al Ghad that the assets have achieved profits of 77 percent with sales of 900 million Egyptian pounds during the last three months.

State-owned Egyptian Arab Land Bank’s has sold Long Beach Ain Sokhna for more than one billion Egyptian pounds last week.

Long Beach Ain Sokhna included 140 villas and 500 chalets, and 270 hotel rooms attached building service hotel rooms, 8 swimming pools, a mall, in addition it has 46 shops on the outer fence, and restaurants  and cafeterias  areas as well as  private parking area.

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