71773
Mohammad Saeedikia
Economy, Domestic Economy

Mostazafan to Relinquish Hotel Business

The Islamic Revolution Mostazafan Foundation will pull out of the hospitality sector and divest its assets, as decreed by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei, the head of the foundation told IRNA.
“The foundation owns more than 20 hotels and is planning to sell them through the stock exchange market,” Mohammad Saeedikia added.
Established in 1979, Mostazafan Foundation is the second-largest commercial enterprise in Iran and the biggest holding company in the Middle East. It accounts for 1.5% of Iran’s gross domestic product, in Saeedikia’s words.
According to his remarks made in late 2016, the foundation’s revenues stood at 169 trillion rials ($4.22 billion) in the eight months of the last Iranian year (March 2016-17), about 8% more than the previous year’s corresponding period. 
Saeedikia put the total value of foundation’s projects at 160 trillion rials ($4 billion) and said plans are afoot to increase the figure to 250 trillion rials ($6.25 billion) in the next three years.

Short URL : https://goo.gl/3AxJeu
  1. https://goo.gl/nT39JY
  • https://goo.gl/BQLaAV
  • https://goo.gl/vDzNvy
  • https://goo.gl/y6PvP6
  • https://goo.gl/LN9gcn

You can also read ...

Valiollah Seif
Governor of the Central Bank of Iran said on Wednesday anti-...
Nat’l Virtual Currency in the Offing
Months after the idea was first publicized, it seems that Iran...
5th Indian Wheat Cargo Arrives for Afghanistan in Chabahar
India’s fifth consignment of wheat to be sent to Afghanistan...
Presale Crosses  96,000 Gold Coins
The presale of Bahar Azadi gold coins priced at 14 million...
Spanish Foreign Minister Alfonso Dastis met with President Hassan Rouhani on Feb, 21.
Foreign ministers of the Netherlands and Spain are in Tehran...
Lexus’ New Crossover to Break Cover  in March
Lexus will pull the covers off of the production version of...
The government has required car importers to pay the higher tariffs announced in January.
The government has finally allowed the clearance of imported...
Bank Loans Top $100b in 10 Months
Banks and credit institutions doled out more than 4.62...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus