Arab Finance: Mena for Touristic and Real Estate Investment received a letter of intent (LoI) from Saudi Arabia-based IRC Company to manage, develop, and expand the current operations of the Mena Garden City Club, according to a bourse filing
The club is owned by Mena Resorts Company, a 98.98% subsidiary of Mena for Touristic Investment.
The offer does not represent any binding commitment or clear, definitive terms. It is subject to the approval of the board members.
Established in 1980, the EGX-listed firm operates in the fields of construction, real estate investment, project management, and urban development both locally and internationally.