Cairo – Mubasher: Marseilia Almasreia Alkhalegeya Real Estate Investment stated that it will finance its project Marseilia beach 4 through clients’ down payments, not through self – finance.
Previous news reports mentioned that Marseilia will in-house finance its project Marseilia beach 4.
Marseilia Beach 4 is located in the area of "Sidi Abd El Rahman Bay" which is about 124.5 Km west from "Alexandria" along "El Alamein" north coast road.
On other hand, the real estate firm said it works on delivering the project’s first phase.
Marseilia also denied that it has signed a memorandum of understanding MOU with City Max Hotel Management to carry out the management of a hotel at Hayat Alex park resort.
Meanwhile, Marseilia pointed out to signing a MOU with Swiss Inn resort for hotel management in order to establish a hotel at its project Marseilia beach 4, but it didn’t define the project’s estimated investment cost.
Earlier, Marseilia raised its issued capital from EGP 40 million to EGP 60 million, where it directed the proceeds of the capital increase to finance its own projects.
