{"id":631518,"date":"2018-03-20T04:03:35","date_gmt":"2018-03-20T04:03:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/20\/ode-general-assembly-approves-sale-of-stake-in-makadi\/"},"modified":"2018-03-20T04:03:35","modified_gmt":"2018-03-20T04:03:35","slug":"ode-general-assembly-approves-sale-of-stake-in-makadi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/20\/ode-general-assembly-approves-sale-of-stake-in-makadi\/","title":{"rendered":"ODE general assembly approves sale of stake in Makadi"},"content":{"rendered":"<p>The general assembly of Orascom Development Egypt (ODE) approved the sale of its stake in Makadi Gardens Hotel, Royal Azur Hotel and Club Azur Hotel. The Board of Directors of Roaya for Tourism and Real Estate Development, a subsidiary of ODE, also approved the sale of a land plot in Makadi destination with the hotels. ODE hopes to net c. EGP 373.8 mn, the company said <a href=\"https:\/\/ent.news\/2018\/3\/2187.pdf\">in a statement (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The general assembly of Orascom Development Egypt (ODE) approved the sale of its stake in Makadi Gardens Hotel, Royal Azur Hotel and Club Azur Hotel. The Board of Directors of Roaya for Tourism and Real Estate Development, a subsidiary of ODE, also approved the sale of a land plot in Makadi destination with the hotels. 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The Board of Directors of Roaya for Tourism and Real Estate Development, a subsidiary of ODE, also approved the sale of a land plot in Makadi destination with the hotels. 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The agreement included the sale of Royal Azur, Club Azur Hotels, as well as a plot of land in the area that the company\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":633041,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/26\/orascom-development-announces-agreements-to-sell-non-core-assets\/","url_meta":{"origin":631518,"position":1},"title":"Orascom Development announces agreements to sell non-core assets","author":"enterpriseam admin","date":"26 February 2018","format":false,"excerpt":"Orascom Development enters agreements to sell non-core assets, will use proceeds to pay down debt: Orascom Development Egypt (ODE) announced signing two final agreements to sell non-core assets. ODE will sell 100% of its equity stake in Tamweel Group and its stake in Makadi Gardens, Royal Azur and Club Azur,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":583713,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/ode-notches-record-earnings-in-2022\/","url_meta":{"origin":631518,"position":2},"title":"ODE notches record earnings in 2022","author":"enterpriseam admin","date":"20 March 2023","format":false,"excerpt":"Rising house prices underpin revenue growth","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Earnings-counting-money-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":633098,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/27\/ebtikar-tcv-acquire-consortium-offers-egp-300-mn-for-odes-share-in-tamweel\/","url_meta":{"origin":631518,"position":3},"title":"Ebtikar, TCV, Acquire consortium offers EGP 300 mn for ODE\u2019s share in Tamweel","author":"enterpriseam admin","date":"27 February 2018","format":false,"excerpt":"M&A WATCH- A consortium made up of Ebtikar for Financial Investment Company, our friends at TCV and Acquire has submitted an offer to acquire 100% of Orascom Development Egypt\u2019s (ODE) stake in Tamweel Group, according to a statement (pdf) from MM Group for Industry and International Trading (MTI), which holds\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631797,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/27\/ode-to-launch-makadi-heights-red-sea-project-in-april\/","url_meta":{"origin":631518,"position":4},"title":"ODE to launch Makadi Heights Red Sea project in April","author":"enterpriseam admin","date":"27 March 2018","format":false,"excerpt":"Orascom Development Egypt (ODE) is planning to launch its new residential and commercial Red Sea Coast development Makadi Heights next month, CEO Khaled Bishara said yesterday, according to Al Mal. The resort is located 25 minutes away from Hurghada, and it offers transport services to the town, according to Bishara.","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593806,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/egypts-hhd-receives-eight-requests-for-10-stake-purchase-management-role\/","url_meta":{"origin":631518,"position":5},"title":"Egypt\u2019s HHD receives eight requests for 10% stake purchase, management role","author":"enterpriseam admin","date":"10 October 2019","format":false,"excerpt":"Emaar, SODIC, BPE, ODE interested in HHD management: State-owned Heliopolis Housing and Development\u2019s (HHD) offer of a 10% stake in return for managing the company has piqued the interest of at least eight companies, sources told the press. 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