Amer for Touristic Development has signed a contract with the New Urban Communities Authority (NUCA) to purchase a 56feddan plot of land in New Minya,on which thePorto Minya development will be constructed.
Hosny Hany, Chairperson and CEO at the Amer Group subsidiary, said that Amer for Touristic Development immediately submitted documents for issuing ministerial approval to begin the project’s construction works. He added that engineering drawings have already been completed.
Hany also saidthat the contract was signed within the framework of a well-studied expansion plan by Amer Group, to launch a large number of valuable projects.
The EGX-listed Amer Groupachieved profits amounting to EGP 9.98m during the first nine months (9M) of 2020, which endedinSeptember, compared to the EGP 39.38m reported in the same period of 2019.The company’s revenues during the period amounted to EGP 897.86m, compared to revenues ofEGP 1bn in the same period of 2019.
