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Amer Group's unit signs development contract for land in NAC

Amer Group's unit signs development contract for land in NAC

ArabFinance: Amer Holding Company (AMER) said its subsidiary Amer Tourism Development Company signed a development contract of a land plot to establish an administrative building in New Administrative Capital (NAC), according to the company’s October 21st statement filed to the Egyptian Exchange.

The land with an area of one acre and a 1000 square meters has been allocated to Giza Tourism Development Company.

The execution of the project is subject to the approval of Administrative Capital For Urban Development (ACUD) as responsible for planning, constructing and developing the NAC project.

Amer Group subsidiary Delmar for Touristic Development signed EGP 450 million funding agreement with Ahli United Bank.

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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04 Oct 2021
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