HOTAC develops 5 branches of internal trade companies : Investment ministry

The Holding Company for Tourism, Hotels and Cinema (HOTAC) developed five branches of internal trade companies, and a Misr Travel branch, with EGP 8m-worth of private sector investments.

HOTAC, which is affiliated to the Ministry of Investment, developed the branches in Cairo, and the Beheira and Daqahleya governorates.

In a report, it was stated that the private sector bore annual participation costs of EGP 7.6m, in addition to carrying the costs of electricity consumption, water, civil defence, and fire branches, and company insurance. The costs also covered tax on activity sales, while maintaining all manpower.

The development of Pontremoli Stores for Furniture in downtown Cairo has already been completed, with the store’s area covering 1,536 sqm.