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FINANCIAL NEWS
Sodic to buy $41m stake in Syria’s Palmyra
17 Jun 2010
(MENAFN) Sodic, an Egypt-based developer, said that it will buy a 50 percent stake worth $40.5 million in Syrian real estate developer Palmyra, Reuters reported.
Sodic will carry out investments worth $40.5 million to acquire 50 percent of Palmyra, Egypt’s stock exchange said in a statement.
Syria has been attracting attention as the authorities have taken cautious steps toward economic liberalization including opening up the banking sector to more foreign investment.
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