Cairo – Mubasher: Misr Hotels on Tuesday said that it has paid off EGP 268.4 million instalments of a loan secured by National Bank of Egypt (NBE) since 24 January 2016 until now.
The 12th expedited payment has been paid recently at a value of EGP 16.18 million, on which the company will not bear any interest of these instalments, Misr Hotels added in a statement to the Egyptian Exchange (EGX).
In January 2017, Misr Hotels’ board of directors agreed on the prompt payment of the NBE’s loan to develop the Nile Ritz-Carlton Hotel in Cairo, as well as the company’s due instalments in the first quarter of fiscal year 2017/2018.
