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Porto Holding eyes EGP 1.3bn investments in 2021

Porto Holding eyes EGP 1.3bn investments in 2021
The real estate developer targets EGP 3 billion in presales this year
Porto Group
PORT
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By: Abdullah Bedeir

Cairo – Mubasher: Porto Group Holding is planning to invest EGP 1.3 billion in its projects in 2021, the Deputy Chairman, Ayman Mokhtar Khalifa, revealed.

The real estate developer also targets EGP 3 billion in presales during the year, he said in a press conference on Tuesday.

The deputy chairman further added that the current ready-to-deliver units are valued at EGP 2 billion.

The company aims to increase its investments in Golf Porto Cairo in Mostakbal City to EGP 14 billion.

In 2021, the company plans to invest EGP 750 million in construction works of the project and generate EGP 1.5 billion in presales.

Spanning over 150 feddans, the project features 2,043 residential units and 543 villas with the first phase consisting of 400 residential units and 150 villas.

The project is scheduled for completion in 10 years with delivery starting from 2024.

Over the course of 2020, Porto Group Holding achieved net profits of EGP 25 million, compared to EGP 104.25 million a year earlier