Arab Developers cancels usage of Amer Group’s Porto brand

Updated 4/27/2022 10:33:00 AM

ArabFinance: Arab Developers Holding (ARAB), formerly known as Porto Group Holding (PORT), has sealed an agreement with Amer Group Holding (AMER) to cancel the use of “Porto” brand in all of the company’s projects across Egypt, according to a filing to the Egyptian Exchange (EGX) on April 27th.

It is worth noting that “Porto” brand is owned by Amer Group.

In January, Porto Group Holding announced that its ordinary general meeting (OGM) dated January 9th 2022 approved to change the company’s name to Arab Developers Holding.

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.