Tawasul
Mubasher TV
Contact Us Advertising   العربية

Porto Group Holding buys land in Assiut for EGP 3bn project

Porto Group Holding buys land in Assiut for EGP 3bn project
The land spans over an area of 323,000 square metres
Porto Group
PORT
2.72% 0.79 0.02

Cairo – Mubasher: Porto Group Holding announced that its subsidiary Porto Assiut Tourism Development signed a contract with the Egyptian New Urban Communities Authority (NUCA) to purchase a land in Upper Egypt.

The investment cost of the project amounts to EGP 3 billion, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Situated in Assiut governorate, the land spans over an area of about 323,000 square metres.

During the six-month period ended 30 June, Porto Group Holding’s profit rose to EGP 80 million, compared to EGP 53.06 million in the same period a year earlier, including minority shareholders’ rights.