Egypt property developer Amer Group inaugurates Porto Sharm El-Sheikh

Egyptian real estate company Amer Group has inaugurated Friday the first phase of its newest large-scale, mixed-use-family-oriented community, Porto Sharm El-Sheikh.

The investment cost of the Porto Sharm project is worth 1.7 billion Egyptian pounds ($93.8 million) involving two phase, Salah Amer – chief executive of hospitality at Amer Group, said during a conference on Friday.

The first phase is at cost nearing 950 million pounds, Amer added.

The project is built in Nabq area close to the Sharm El-Sheikh Airport and one of the high-end areas in the resort city, comprising of 2297 residential units all built overlooking the lake and golf course for the first phase, he stated.