Cairo – Mubasher: Porto Group Holding aims at achieving EGP 2.1 billion in revenues from the 439 units of the shore area of Porto Dead Sea, the Egypt-based firm said on Monday.
The investment cost of the area amounts to around EGP 1.6 billion, and the company is expected to recognise the revenues during 2018 over about 70 units, the Egyptian real estate developer said in a filing to the Egyptian Exchange (EGX).
The project is comprised of two areas, namely the 780,500-square metre mountain areas and the shore area spanning 19,500 square metres in a constructed space of 66,600 square metres, according to the filing.
On Sunday 15 April, Porto Dead Sea, a subsidiary of Porto Group, announced the beginning of delivering the first phase of Porto Dead Sea in Amman, Jordan.
