Media Production City to sell Movenpick

28 May 2009

The Egyptian Media Production City (EMPC) has commissioned a consulting firm to promote the sale of its Movenpick Hotel, and distribute the tender document among a number of senior Egyptian and Arab investors. Sayed Helmi, head of the EMPC, confirmed the firm's intention to sell the hotel. 'For a long time we have been making the studies necessary to complete the sale at the appropriate time in order to provide quick liquidity and maximize returns in a way matching with the EMPC investments,' Helmi said.

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