Arab Finance: Egyptian for Developing Building Materials (Lift Slab Misr) has signed a purchase agreement to acquire the Stella Di Mare 2 project from Remco for Tourism Villages Construction, as per a disclosure.
The company has already received the project and is currently preparing the unsold units for sale, in collaboration with the marketing and sales team.
It has also cooperated with a professional marketing company to devise a plan for selling these units.
Cash flows generated from the sale of unsold units will help meet Lift Slab Misr’s contractual obligations for project completion and timely payments to Remco.
Additionally, Lift Slab highlighted that its capital could be increased if necessary to cover any funding gaps.