Dec. 2 (Bloomberg) -- Remco for Touristic Villages Construction plans to sell its Grand Hotel property to Incolease to help fund new projects, Al Alam Al Youm reported, citing President Ayoub Adly Ayoub.
Remco will lease back the hotel, the Cairo-based business newspaper quoted Ayoub as saying. The company is negotiating the purchase of a land plot for a residential and touristic project, he said in the report.
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