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Amer Group’s Delmar secures loan worth EGP 450M

Amer Group’s Delmar secures loan worth EGP 450M

ArabFinance: Amer Group’s (AMER) subsidiary Delmar for Touristic Development signed EGP 450 million funding agreementwith Ahli United Bank, according to Amer’s statement filed to the Egyptian Exchange.

Delmar will utilize the loan in the establishment of Porto Heliopolis which spans on an area of 27,000 square meters.

Amer Group and Porto Group received a report of determination their shares in $39,916,097 (EGP 629,297,227) compensation they awarded from an arbitral case no. 2014/986.

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. 

At the press time, the conversion rate is $1= EGP 15.77

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