Porto Group decides to change its name, participate in establishing new company

CAIRO – 28 February 2021: The Board of Directors of Porto Group Holding approved the proposal to change the name of the company.

The company stated Sunday that this comes in line with its future plans and aspirations for growth and development in preparation for submitting to the extraordinary general assembly for approval and approval.

The Board also approved the establishment of a new company, whose name will be identified later, in conjunction with Prime Egypt Group, the Emirati Asmak Group, Gamal Fawzy Mohamed Fathallah, Ayman bin Mukhtar bin Ibrahim Khalifa and other shareholders.

It noted that the company's activity will be business development, project management and investments.

During 2020, Porto Group Holding recorded net profits of LE 25 million, compared to LE 104.25 million in 2019

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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.