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Amer Group discloses price of land bought by subsidiary

Amer Group discloses price of land bought by subsidiary

ArabFinance: Amer Group announced the price of the land plot, which was bought by a subsidiary Amer Tourism Development, at EGP 388 million, according to a statement released on December 29th.

Amer Tourism Development purchased a 56-acre land in New Minya City to establish Porto Minya project.

Earlier, the Administrative Capital for Urban Development approved Amer Group's project in the New Administrative Capital.

Amer Tourism Development, a subsidiary of the listed company, will set up an administrative building in NAC’s financial district.

Amer Group is engaged in diversified industry sectors, with its operations being structured into many segments, namely real estate, restaurant, hotel, malls, retail, among others.

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