Cairo – Mubasher: Amer Group Holding Co. said that the remaining housing units in its projects will be delivered by June 2017, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
Customers will not see any increase in prices, the group added.
Despite the recent increases, Amer Group will not raise the prices of its units, which are in line with the budget approved by the board, the statement showed.
The Central Bank of Egypt (CBE) on 3 November announced free-floating the Egyptian pound and increasing the interest rate by 300 basis points, allowing local banks to freely price the foreign exchange rate through the Interbank system.
Amer’s stock declined 2.78% on Tuesday to EGP 0.35.
