Cairo – Mubasher: Porto Group Holding aims to expand in the Arab region and inject more than EGP 1 billion worth of investments, the CEO revealed.
The real estate developer is planning to pump over EGP 1 billion in investments in the local market over the coming three years primarily by acquiring and developing land plots, the CEO added in a bourse disclosure on Sunday.
The construction works for Porto Agadir in Morocco is expected to begin in 2022. About 80% of Porto Group's total projects are located in Egypt.
In the first half (H1) of 2021, the company turned to consolidated net profits of EGP 71.79 million, versus net losses of EGP 24.7 million in the year-ago period, including minority shareholders' rights.
