Egypt-based property developer Porto Group has announced its next big move to restructure business and rebrand to Porto Developments, Invest-Gate reports.
“This new vision aims at enhancing the company’s design and construction units with the latest technology, in a bid to provide some innovative real estate products that meet the demands and needs of clients, Porto Group Chairman and Managing Director Gamal Fathallah was quoted as saying in a press release on October 28.
“Porto Developments seeks to carve an exceptional presence in the Egyptian real estate market in a way that supports the group’s strategic plans and complements the recent changes in the sector in the wake of the Coronavirus crisis,” Fathallah continued.
Upon rebranding, Porto Developments will explore new horizons and investment opportunities overseas by establishing an array of development projects in the MENA region, besides eyeing the launch of three others in Egypt (Golf Porto Cairo, Porto Assiut, and Porto Aghadir) in the coming period, according to the chairman.
On his part, Porto Group Vice Chairman Ayman bin Khalifa confirmed that the company’s total investments amount to EGP 30 bn. He also indicated the Egyptian property scene is booming in the current period, and thereby driving the developer to adhere to implementation rates.