Cairo – Mubasher: Amer Group Holding Co has started construction on an administrative building over an area of 5,200 square metres in the Financial District in the New Administrative Capital.

Giza and Cairo for Real Estate Development has received a no-objection letter from the Administrative Capital For Urban Development (ACUD) on the land development deal signed with Amer Group’s subsidiary Amer Tourism Development, according to a bourse disclosure on Thursday.

During the first nine months of 2020, Amer Group achieved net profits of EGP 9.98 million, down from EGP 39.38 million in the year-ago period, including minority shareholders’ rights.