Cairo – Mubasher: A subsidiary of Amer Group Holding Co has signed a contract to establish a commercial tourism residential project in the western gate of Port Said with an estimated investment worth around EGP 3 billion.
The project will include an international hotel and residential units, in addition to commercial and entertainment services, with a capacity of 4,000 rooms, Amer Group said in a filing to the Egyptian Exchange (EGX).
This project will be an architectural and civil landmark for Port Said and Damietta, chairman of Amer Group Commented.
The aforementioned project will be built by its under-construction tourism development unit, according to the filing.
Amer Group’s capital amounts to EGP 1.003 billion distributed over 5.015 billion shares at a par value of EGP 0.2 per share.