Orascom Development Egypt sells EGP 104.8 mn land plot to Mangroovy Hotels

Orascom Development Egypt has sold a 40k sqm plot of land in El Gouna to MangroovyHotels for EGP 104.8 mn, according to a bourse disclosure (pdf). Mangroovy will use the plot to provide “different types of services” for people living at its Mangroovy Residence project.