National Housing cancels auction of selling Meridian Hotel

Updated 3/1/2018 11:08:15 AM

ArabFinance: National Housing for Professional Syndicates (NHPS) announced in a statement sent to EGX, it cancelled the auction held on February 28, due to lack of suitable values regarding selling Meridian Heliopolis Hotel.

The company asserted continuity of negotiation with investors through the National Bank of Egypt (NBE), noting the Board will going to be convened once the negotiation has been reached to cancel the selling action.