Incorporated in 1995, Remco Tourism Villages Construction Company (RTVC) is the flagship of the Remco Group (REMCO). RTVC was first traded on the Egyptian Stock Exchange in 1998 (RTVC.CA) and its current paid-up capital exceeds EGP 2 billion.
RTVC forms part of and owns the majority shares in all REMCO Group companies:
- Egyptian Tourism Village Construction (ECTV)
- Orient Tours Hotels and Tourism Villages (OTHV)
- Tourism International Company (TIC)
- Remco Real Estate Construction (RREC)
- Pharonia Trading & Contracting Company (PTC)
- Empain Tourism Investments Company (ETIC)
- Scandinavian Tourism Development & Investment Company (STDIC)
- Remco Restaurant Management Company (RRM)
REMCO’s projects include resort complexes that comprise hotels, commercial areas and housing units, residential complexes, standalone hotels as well as entertainment venues. REMCO selects and acquires plots of land, designs the development, sells individual units and retains ownership of public areas such as hotels, landscaped areas, beaches and communal swimming pools, roads, water and sewage treatment plants.
REMCO maintains and safeguards the development after delivery of the units to their owners. Its projects are located in the Greater Cairo area, on the North Coast of Egypt and on the Red Sea Coast.
Realizing the national need and the strategic importance of construction to economic development, the Government of Egypt has taken measures to encourage and support infrastructure planning, establishment of new communities and tourism development. The last decade witnessed massive developments on the Mediterranean and Red Sea coasts, Sinai and suburban Cairo.
The residential and resort real estate markets in Egypt have experienced a boom, wherein numerous new real estate and tourism developments have been undertaken to address the country's needs. The demand still exists and with the government’s backing to increase tourism the private sector is encouraged to construct tourist resorts in new attractive areas on the Red Sea coast, Sinai and the North Coast. While rapid growth has taken place it is expected that growth will continue over the next few years in both the residential and tourism sectors.
The projects undertaken by REMCO have varying life cycles which helps in ensuring a steady stream of profits and enhanced cash management thus minimizing the impact of the cyclical nature of property development. REMCO's value will be that of an ongoing concern with long-term profit generation capability.
The judicious selection of land, combining housing and commercial units with hotels has proven to be a winning formula as shown by the Stella di Mare resort at Ain Soukhna, RTVC's pilot project.
This winning prescription geared REMCO to sustain its success via a continual strive to upgrade its management structure, maintain dynamic team spirit, and open two way communications policies within the group. This has enabled the company to boost current efficiencies and sidetrack possible adverse effect on the progress of work.
REMCO's services extend beyond construction and contracting practices:
In its capacity of holding company, RTVC performs a wide range of management functions: project conceptualization, sales promotion, technical support, financial management, project management and property operations and administration. This central management approach offers a number of advantages, among which are:
- Cost effective promotional resources which allows a wider reach of the targeted customer base.
- Efficient funds management and stronger financial control.
- Leveraging highly skilled professionals over a number of projects.
- Economies of scale.
REMCO strives to provide its customers with high quality residential and resort units at affordable prices with convenient payment terms. It also ensures that its shareholders benefit from its strategy through sustainable development.
- Land Portfolio Development: In support of its current and future business plans and to build up its assets, REMCO has acquired a diversified land portfolio in strategic locations on the Mediterranean and Red Sea coasts as well as in Greater Cairo.
- Design & Conceptualization: REMCO's aims to provide quality products at competitive prices to enhance client satisfaction and project marketability. To achieve this Remco has collaborated with international design offices; focused on finishing according to customer needs; spent liberally on landscaping, incorporating gardens and lagoons; ensured spacious distribution of lodging for privacy and visual comfort.
- Marketing and Promotional Approach: The marketing strategy is based on introducing the target market to: quality of its products; proven commitment to schedule; competitive value for money offers; attractive financing schemes; sustainable operation and maintenance by establishing collective maintenance funds.
- Project Management: RTVC has extended its activities to act as a developer holding company, offering centralized management services to its subsidiaries thereby achieving economies of scale and enhancing the promotion and sales capabilities. Accordingly the company provides its own management for the projects which ensures efficiency and high quality products.
REMCO is strategically positioned in a very dynamic environment. The real estate tourism industry is one of the fastest growing industries in Egypt. The most dynamic segment of this industry is the real estate for leisure or Residential Tourism, caused by increased per capita income and holiday durations, as well as technological progress which improves the cost and the convenience of travel to nearby destinations within Egypt. However, increased sophistication and differentiation of demand, requires product diversification and an ability to match target market segments with attractive prices and unit designs.
Customers nowadays are looking for much more than sand, sea and the simple life. Thus, the winning prescription is to provide increased quality at lower costs, while attracting customers by a wide range of services, such as golf, spas, adventures, diving opportunities and the like. This prescription is supported by the world wide maturing awareness of the environment and sustainable development strategies.
REMCO's potential for growth in the real estate and tourism development market is based on six important pillars:
- Sound, independent and diversified projects.
- Commitment to schedule.
- Competitive prices.
- Carefully tailored payment terms.
- Continuous operations and maintenance.
- Safe-guarding the environment.
REMCO continuously seeks new business opportunities focusing mainly on new residential areas and tourist destination that are yet to be exploited.