One of the highly anticipated cities to form the new map of Egypt, New Minya, to see major real estate and tourism developments soon.

According to Reuters, Amer Group’s subsidiary, Amer For Tourism Development has officially requested allocating a 110-acre- land plot to establish one of its signature projects. In a released statement to the Egyptian Exchange (EGX), Amer Group confirms that it has been waiting for the Municipal approval in order to complete the procedures. This private venture marks the first of its kind in Upper Egypt.

Amer Group posted a net profit of EGP 25.42 mn during H1-2019 compared to EGP 55 million in H1-18.