Remco for Touristic Villages Construction stated today agreeing with HSBC Bank on Thursday to conduct financial studies for GDR-listing on London Stock Exchange (LSE). Adly Ayoub, Chairman, had previously announced studying overseas ventures in Africa and France to diversify income resources. The company currently undertakes projects in Makadi Bay, which are managed by Orient Tours and comprise two 600-room and 700-room hotels leased for nearly EGP 90 million. One of these hotels will be inaugurated this year, while the other one next year. The Stella Heliopolis project, which includes 80 villas, a shopping mall over 30 feddans area, was totally sold and earnings will be included in FY08 balance sheet. Stella Marina, comprising 1000 residential units, a shopping mall and 150-room hotel, was 90% sold. There are other 900 units and 800 hotel rooms in North Coast near Emaar Properties, which were completely sold. According to the company, its market capitalization, which presently amounts to EGP 950 million, will be raised to nearly EGP 3 billion after acquiring Remco for Real Estate Construction that is valued at EGP 2.3 billion