Cairo – Mubasher: Porto Group Holding announced that its subsidiary Porto Assiut Tourism Development signed a contract with the Egyptian New Urban Communities Authority (NUCA) to purchase a land in Upper Egypt.
The investment cost of the project amounts to EGP 3 billion, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.
Situated in Assiut governorate, the land spans over an area of about 323,000 square metres.
During the six-month period ended 30 June, Porto Group Holding’s profit rose to EGP 80 million, compared to EGP 53.06 million in the same period a year earlier, including minority shareholders’ rights.
