Leading regional developer Amer Group (AMER.CA) has begun construction work on the first phase of its EGP 6 billion Porto October project, a purpose-built city that will serve as a downtown core and residential center for Sixth of October, a Cairo suburb.
The 1.38 million square meter development is set to become a landmark in entertainment and service as family-friendly destination that comprises mega-malls, a children’s amusement park, hotels, sports clubs, schools, and communal green space, in addition to 80 restaurants and a hospital.
Porto October project will feature villas, duplexes, twin houses and apartments with unique designs and competitive prices.
“Porto October represents a decisive move into the first-home market and capitalizes on the strength of the brand we have developed in the resort and second-home sectors,” said Mansour Amer, Founder and Chairman of Amer Group.
“I am delighted to report that 85% of retail, commercial and residential units in the first phase of the development have been sold on the back of a strong national marketing complain,” he added.