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Amer Group still in talks over land in Sohag

Amer Group still in talks over land in Sohag

ArabFinance: Amer Group (AMER) is still in the preliminary phase of determining a land area in Sohag, according to an August 25th statement filed to the Egyptian Exchange.

This came after a local news website reported that Amer refrained from establishing an urban project in New Sohag.

Last December, the company said the final price of the land has not been determined yet, noting it has been preparing the feasibility and marketing studies. 

The Egypt-based group earlier teamed up with Sarwa Promotion and Masr Capital to prepare a preliminary study in order to issue sukuk in favor of the latter.

Under the agreement signed between the three parties, Sarwa and Masr Capital will act as lead managers for the sukuk issuance.

Amer Group is engaged in diversified industry sectors. The group's operations are structured into many segments, namely real estate, restaurant, hotel, malls, retail, among others. Other activities include the provision of touristic boats, investment and marketing, and real estate maintenance services. 

 

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