Cairo – Mubasher: The ordinary general meeting (OGM) of the Holding Company for Construction and Development (HCCD) approved raising the company’s paid-up capital by EGP 400 million to EGP 2 billion, during a meeting chaired by Egypt's Minister of Public Business Sector, Mahmoud Esmat.
The general assembly further approved the estimated budget of the company and its affiliates for fiscal year (FY) 2022/2023, according to a statement on Tuesday.
In addition, it agreed to proceed with the procedures relating to the handover of Omar Effendi Company from it to the Holding Company for Tourism and Hotels (HOTAC) to achieve integration of activity.
The Holding Company for Construction currently acts as the general developer directly or in partnership with the private sector to develop the land portfolio it owns for the sake of utilising it in diversified investment projects covering different sectors, including agriculture, industry, tourism, and entertainment.
