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.
Egypt-based Amer Group is still in the preliminary phase of conducting financial studies and due diligence on the feasibility of land purchase in New Sohag.
Amer Group's subsidiary Amer for Tourism Development has obtained approval from the New Minya City Authority to scale down the land area allocated for an integrated urban project in the new city.
Egypt-based Amer Group reported an 8.6% hike in net profits in H1 2020, logging EGP 27.6 mn versus EGP 25.4 mn in the corresponding period last year.
Amer Group has announced the appointment of Hassan Elaroussy as the CEO of its subsidiary Porto Club for Sports Investment, aiming to develop a sporting club in its Porto Said project on the Mediterranean Sea.
EFG Hermes has partnered with newly set-up mortgage finance company Qasatli to issue five-year securitized bonds, worth EGP 1.8 bn.
Amer Group has confirmed that works at its latest project in east Cairo, Porto Heliopolis, owned by its subsidiary Delmar for Touristic Development, have been temporarily suspended by the competent authorities.
One of the highly anticipated cities to form the new map of Egypt, New Minya, to see major real estate and tourism developments soon
Amer Group has announced the launch of Porto Heliopolis, the first gated community in Heliopolis, east Cairo.
Amer Group Holding posted a 54% year-on-year slump in its consolidated profits for the first half of 2019, mainly due to lower sales.
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