Cairo – Mubasher: Amer Group Holding Co announced that its subsidiary Amer Tourism Development submitted a request to the New Minya City Authority to reduce the allocated area for a new tourism project.
Amer Tourism Development asked the head of the New Minya Authority to obtain a 40-feddan land plot instead of the 110-feddan land plot requested earlier, according to a bourse disclosure on Sunday.
The real estate developer currently awaits the New Urban Communities Authority's (NUCA) approval to build a new tourism project in the Upper Egyptian governorate.
It is noteworthy to mention that during the January-September period of 2019, Amer Group reported net profits of EGP 39.3 million, down from EGP 70.8 million in the same period of 2018, including minority shareholders’ rights.
