Latest news with #NorthCoast
Yahoo
2 hours ago
- Business
- Yahoo
Thomas Financial Group secures loan to restore hotels in California, US
Thomas Financial Group has secured a $19.97m USDA Business & Industry loan, which will be redirected towards the full renovation of Mendocino Hotel & Garden Suites and Hill House Inn, two properties in California, US. This funding also aims to refinance the properties and significantly boost local employment, creating more than 50 jobs. The comprehensive plan for both assets will not only refurbish all guest rooms but also relaunch a key food and beverage venue and the largest indoor event space on California's North Coast. Castle Peak Holdings, the new owner of these properties, is set to launch a restoration to improve the experiences of the guests. The renovation will see upgrades across both sites, restoration of a historic lobby bar and a three-meal restaurant at Mendocino Hotel. Additionally, the North Coast's largest indoor wedding venue will be reopened, and improvements will be made to room layouts, Americans with Disabilities Act (ADA) compliance, and coastal-facing suites. The projects will also focus on activating public gathering spaces for both locals and tourists. The Mendocino Hotel & Garden Suites stands as the sole full-service hotel in the downtown district. Set to be transformed into a hilltop retreat, Hill House Inn will feature meeting and event spaces, offering ocean views and convenient access to downtown Mendocino. Thomas Financial Group government guaranteed lending senior vice-president Zach Chandler said: 'We delivered a complex, long-term loan structure to support two of Northern California's most irreplaceable hospitality assets, and did it with the stability of USDA financing.' The loan has an 80% USDA guarantee and a 30-year term without balloon payments. The properties signify a substantial part of Mendocino's total hotel room inventory. "Thomas Financial Group secures loan to restore hotels in California, US" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
9 hours ago
- Business
- Zawya
Egypt: SODIC posts 107.5% YoY consolidated profit in H1 2025
Egypt - Sixth of October Development and Investment Company (SODIC) reported a 107.48% year-on-year (YoY) surge in consolidated net profits attributable to the parent company during the first half (H1) of 2025 to EGP 1.297 billion from EGP 625.535 million, according to financial statement. Total operating revenues soared to EGP 4.779 billion in H1 2025 from EGP 3.935 billion in H1 2023. On the other hand, the firm's standalone net profits after tax soared to EGP 390.101 million in the six-month period, versus EGP 45.885 million over the same period a year ago. Meanwhile, standalone operating revenues declined to EGP 2.171 billion from EGP 1.486 billion. Established in 1996, SODIC is a mixed-use developer listed on the EGX, with a portfolio of diversified projects across Egypt, particularly in Cairo and the North Coast. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The National
a day ago
- Entertainment
- The National
Lebanese singer Ragheb Alama's Egypt concerts suspended following accusation of inappropriate conduct
Lebanese singer Ragheb Alama has been suspended from performing in Egypt for 'violating the country's customs, traditions and societal values' after being kissed on stage by a fan. The decision made by the Musicians Syndicate in Egypt came after the circulation of a video of the incident at his recent concert on the North Coast. Alama, 63, has been summoned to the Musicians Syndicate headquarters for an investigation into what has been described as a 'deliberate violation of Egyptian norms, customs and traditions.' His work permit in Egypt has been suspended pending his appearance. Alama said he plans to attend, and holds the concert organisers responsible for the incident. 'For two days, I have been following shameful behaviour that violates all Egyptian customs, traditions and societal values,' said Mostafa Kamel, head of the Musicians Syndicate in Egypt. 'We have never been accustomed to this in our country before and we will not allow it to be repeated. 'Egypt's stages have been graced by some of the greatest artists in Egypt and the Arab world, both artistically and in value. They have never been, and never will be, a breeding ground for kisses, undisciplined gestures and disgusting hugs. He added: 'With my sincere respect and appreciation to Mr Farid Bou Said, the head of the Musicians Syndicate in our sister country, Lebanon, and to all our brothers and sisters in the beloved Lebanese people.' The syndicate has also contacted officials from the Chamber of Tourism Establishments to arrange a meeting with them or their representatives, with the aim of making a joint decision to summon the owner of the tourist venue that hosted the concert. Alama said in a phone call with Al-Nahar TV: 'What happened was that the girl grabbed me in her joy as I was coming off the stage and kissed me. The kiss wasn't on my mouth. I swear to God, that didn't happen.' He added: 'I hold the organisers responsible because people were going to the theatre. I respect the audience and I am well aware that tourism in Egypt is a great responsibility. 'I contacted the head of the syndicate and I respect the syndicate's decision and place myself at its disposal. God willing, I will visit the syndicate next week.'
Zawya
2 days ago
- Business
- Zawya
Laverde Developments continues deliveries in the New Administrative Capital with construction progress reaching 70%
Ibrahim Lashin: Laverde eyes expansion beyond the New Capital to North Coast and West Cairo Laverde Developments is accelerating its efforts in Egypt's New Administrative Capital through the execution and handover of residential units in its two flagship projects: Laverde New Capital and Laverde Casette. These projects reflect the company's commitment to offering modern residential communities where infrastructure, green spaces, and high-quality services are seamlessly integrated. In line with its construction timeline, the company has recently started delivering the first phase of Laverde New Capital. Over 120 residential units have been prepared for handover, with clients already beginning interior finishing work—marking a major milestone that reaffirms Laverde's focus on quality, client satisfaction, and market credibility. Chairman Ibrahim Lashin stated that construction progress has reached advanced levels, with Laverde New Capital achieving 70% completion in residential phases and Laverde Casette surpassing that figure. This accelerated pace in several project phases underscores the company's efficiency and commitment The Laverde New Capital project covers approximately 35 acres, with 80% of the land dedicated to green and service areas, and only 20% to construction. This approach creates a balanced urban design and a comfortable residential environment. Meanwhile, Laverde Casette spans 50 acres and maintains an even lower building density—just 10%—with 90% of the land allocated to landscaping and amenities, offering residents an open, nature-centric lifestyle. Lashin added that the current handovers involve residential apartment buildings in Laverde New Capital, which features a mix of apartment buildings and villas. In contrast, Laverde Casette focuses primarily on villas, including Townhouses, Twin Houses, and Standalone Villas, with only four residential buildings on the site. In terms of unit sizes, Laverde New Capital offers apartments ranging from 135 sqm to 270 sqm, and villas from 480 sqm up to 1,063 sqm. Laverde Casette offers villas ranging from 284 sqm to 639 sqm—ensuring a wide selection to meet the preferences of diverse client segments. Looking ahead, Laverde Developments is actively exploring new investment opportunities in key locations such as Egypt's North Coast and West Cairo. The company continues to study market trends to identify expansion avenues that align with its long-term development goals. Lashin emphasized that Laverde adopts a flexible strategy to navigate current real estate market challenges, including rising construction costs, fluctuating interest rates, and shifts in consumer demand. As part of this approach, the company is diversifying its product portfolio—not only in terms of apartment and villa types, but also by integrating hotel suites, retail outlets, and office spaces into its projects. Through this product diversity, Laverde ensures market adaptability and broad customer appeal, securing its leadership position in Egypt's real estate sector and strengthening its growing property portfolio.
Al Bawaba
2 days ago
- Entertainment
- Al Bawaba
Ragheb Alama breaks silence after controversial kiss at Egypt's concert
ALBAWABA - Lebanese singer Ragheb Alama has made his first statement after his controversial video with one of his female fans, who kissed him in a controversial way, sparking anger all over social media. Also Read Video: Fan kisses Ragheb Alama on his lips, sparks controversy The Egyptian Musicians Syndicate decided to suspend him from performing and summon him for investigation, following what the syndicate described as "shameful behavior" at his recent concert on the North Coast in Egypt. Ragheb Alama confirmed that a photo circulating at one of his recent concerts, which sparked widespread controversy, was taken from the wrong angle, where it showed the female fan kissing him on the mouth. However, the Lebanese singer said this is not true. Lebanese artist Ragheb Alama from North Coast party in Egypt. (Instagram) In a phone call to the "Studio Extra" program on "Extra News" channel, the artist said: "The circulated photo showed the matter inaccurately. The fan was not Egyptian, and she was happy with the concert and tried to express her joy. The camera angle suggested that she kissed me on the mouth, but that did not happen at all. She just suddenly grabbed me." He added, "I treat my fans of both genders with the same affection. I don't reject or embarrass anyone. My approach doesn't include insulting or pushing away the audience, but what happened is the responsibility of the concert organizers. They should have organized the interaction or even put up barriers if necessary," adding sarcastically, "They should have installed barbed wire."
