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Amer Group awaits issuance of land for Cairo Capital - Daily News Egypt

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Amer Group awaits issuance of land for Cairo Capital

Amer called on CBE to fix dollar price

Amer Group is open to investments in the Cairo Administrative Capital if the government offered the lands, Chairman of the group, Mansour Amer, told the Daily News Egypt.

On the sidelines of the press conference to launch stocks of Porto Group and Amer Group companies in the stock market, Amer said that his company will invest EGP 2.5bn in the coming period in the health sector to build five hospitals.

The hospitals will be in Porto Marina, Porto Sokhna, Porto New Cairo and Porto October.

Commenting on the dollar crisis, Amer asked the CBE to fix the dollar price “at whichever value” in order to be able to bring back dollars into the market.

When asked whether the groups are considering social housing projects, Amer said that they are not targeting low and medium-income citizens, “we offer a different product”.

The former Amer Group market stock was divided into two stocks, Amer explained, adding that, upon the division, each Amer Group stock holder will have a stock in Porto Group as well.

Trading on the two stocks will begin on Thursday, Amer announced. Porto Group stock value is 29 piasters per share, while Amer Group stock is 28 piasters per share.

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