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Amer Group’s unit buys land in New Minya City for EGP 388m

Amer Group’s unit buys land in New Minya City for EGP 388m
The company plans to build Porto El Minya on the 56-feddan land
Amer Group
AMER
1.08% 1.03 0.01

Cairo – Mubasher: Amer Group Holding Co said that the value of the land purchased by its subsidiary Amer Tourism Development in New Minya City amounts to EGP 388 million.

The company plans to build Porto El Minya on the 56-feddan land, according to a bourse disclosure on Tuesday.

During the first nine months of 2020, Amer Group recorded net profits of EGP 9.98 million, down from EGP 39.38 million in the corresponding period a year earlier, including minority shareholders’ rights.