Amer Group’s subsidiary Delmar for Touristic Development has signed an EGP 450 mn loan contract with Ahli United Bank to finance the Porto Heliopolis project, Invest-Gate reports.

Developed over 27,000 square meters on El Thawra Street, Porto Heliopolis is the first gated community in east Cairo’s Heliopolis area, according to the company’s recent bourse filing.

Upon completion, the residential compound will feature top-notch facilities, ranging from butler services and elegant eateries to giant shopping centers and dedicated spas.

During the first six months of 2020, Amer Group had logged net profits of EGP 27.61 mn, up from EGP 25.42 mn in the prior-year period, as highlighted in an earlier statement.