By Hamed Mahmoud
Gamal Fathallah, Chairman of the Board of Directors of Porto Group, announced the company’s plan to work very seriously during the coming period to fulfill its obligations with its customers and deliver its projects according to what has been determined with its customers, despite the coronavirus crisis, while preserving the safety of workers at project sites and employees at the administrative headquarters of group.
He pointed out that the company is working with an internal development plan that preserves the company’s reputation in the real estate market during the coming period.
He explained that the total number of units that the company has sold to customers so far exceeds ten thousand units with a total value of about LE13 billion and so far, more than seven thousand of them have been delivered. The company plans to deliver approximately 3,500 other units this year.
He talked about the current investors’ plan to establish a new entity in partnership with the Prime Egypt Group and the Emirati Asmak Company, whose activity is to develop and manage businesses, projects and investments
He said that the company has a plan to implement 3 new projects with estimated investments of about LE20 billion on plots acquired by the company during the years 2019-2020; namely “Golf Porto Cairo”, “Porto Assiut” and “Porto Agadir.”
He explained that the “Porto Assiut” project aims to establish a sophisticated urban complex in the governorate, which includes 500 housing units at an investment cost estimated at LE4.5 billion over a period of 6 years. He pointed out that work is being done strongly and continuously on this project, specifically in the first phase which will be implemented within 3 years.
He added that the “Golf Porto Cairo” project is located on an area of 151 feddans within the fourth phase of Al-Mostakbal City directly on Al-Amal Road and near the New Administrative Capital and Madinaty, and includes 3.000 residential units and 500 villas in addition to international restaurants, an international school, a nursery, a mosque and administrative offices.
Ayman Khalifa, Porto Group’s Vice Chairman and CEO said that the company has an ambitious plan to search for new investment opportunities and lands in various parts of Egypt. This comes after making sure that they are distinguished in investment and fit with the development and investment plans of the company. Khalifa added that the company’s internal and external investments amount to approximately LE30b.
