Porto Group intends to pump investments exceed LE 1B in Egypt, Arab countries

CAIRO - 3 October 2021: Porto Holding Group (Porto Group) intends to expand in the Arab world and inject investments exceeding LE 1 billion.

The group is targeting expansion in most Arab countries, according to a filing to the Egyptian Exchange (EGX).

It added that "Porto Group" plans to pump new investments exceeding LE 1 billion in the local market during the next three years.

It explained that the optimal investment form for the group is to acquire lands of different sizes and work on developing them.

According to the group, it is expected to start construction operations and reservations for Porto Agadir in Morocco during 2022, indicating that Egypt represents 80 percent of the total projects related to Porto.

Porto Group turned into profitability during the first six months of 2021, recording profits of LE 71.79 million, compared to losses of LE 24.7 million in the comparable period of 2020.

Porto Group operates within the real estate sector, focusing on diversified real estate activities. It has subsidiaries operating across Egypt, Syria and the British Virgin Islands.