Cairo – Mubasher: Both the Egyptian Resorts Company and Pyramisa Hotels and Cruises have agreed to settle down all disputes sparked by Sahl Hasheesh land sale contract, the Egyptian Resorts Company said in a bourse filing.

Earlier Pyramisa Hotels and Cruises filed a lawsuit against the Egyptian Resorts Company, for annulling Sahl Hasheesh land sale contract, as the latter did not comply with the arranged development plan.

This contract was awarded to Egyptian Resorts on 24 October 1995 for developing 32 million sqm in this area.

Earlier, Egypt’s Administrative Court's State Commissioners Authority recommended dismissing the former case due to the plaintiff’s lack of capacity, said Egyptian Resort.

Yet, the Administrative Court decided to adjourn Sahl Hasheesh lawsuit until 18 July 2016