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Land Bank sells 5 hotel buildings in Shark's Bay

Businessmen Team realestates 12 June 2025 08:01 PM
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Land Bank sells 5 hotel buildings in Shark's Bay

The Ismailia Economic Court has decided to hold a forced sale session for five buildings built on 10,000 square meters for hotel operations in the Sharks Bay area of ​​Sharm El-Sheikh, to the Egyptian Arab Land Bank, with a deposit of EGP 2 million.

The total area of ​​the buildings is 10,588.6 square meters, with a base price of EGP 72,870,000. The sale session was scheduled to take place early this month, but was postponed to maximize the use of the land and allow time for those interested in applying.

The sale session is scheduled to be held at the Ismailia Economic Court to receive bids from those interested in acquiring the five buildings and repurposing them for hotel projects, in light of the growing demand for these types of projects.