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Porto Group to buy 30-feddan land in New Sohag

Porto Group to buy 30-feddan land in New Sohag
The plot is subject to pricing
Porto Group
PORT
1.03% 0.59 0.01

By: Abdullah Bedeir

Cairo – Mubasher: Porto Group Holding has submitted an offer to buy a 30-feddan plot of land near Sohag University, head of the New Sohag Development Authority, Ragab Salman, told Mubasher.

Porto Group is planning to launch an integrated property project on the land, Salman added.

The top official revealed that the plot is subject to pricing, adding that Porto Group may pay 10% of the plot’s price as downpayment within a week.

The land is expected to be allocated to Porto Group Holding in a month, Salman noted.

It is worth noting that the group’s net profits dipped to EGP 91.3 million in the nine-month period ended 30 September, compared to EGP 115.8 million in the corresponding period a year earlier.