ArabFinance: Remco for Tourism Villages Construction (RTVC) posted a consolidated net loss before minority interest of EGP 265.914 million in the first half (H1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 22% when compared to the loss of EGP 341.928 million incurred in H1 2020.

Standalone reported a standalone net loss of EGP 324.612 million in H1 2021.

The extraordinary general meeting of Remco has approved the offer submitted by a group of Egyptian investors to acquire Remco's 99.98% stake in Empain Tourism Investments.

Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.

The company acquires plots of land, designs the development, sells individual units, and retains ownership of public areas such as hotels, landscaped areas, housing complexes, beaches, and water and sewage treatment plants.