Amer Group’s unit signs EGP 450m funding deal with Ahli United Bank

Delmar for Touristic Development, a 99.9 percent-owned subsidiary of Amer Group Holding Co, signed a funding agreement worth  450 million Egyptian pounds with Ahli United Bank.

The loan will finance the establishment of Porto Heliopolis which will cover an area of 27,000 metres, the company said in a bourse disclosure.

During the first six months of 2020, Amer Group logged net profits of 27.608 million pounds, up from 25.42 million pounds in the year-ago period, including minority shareholders’ rights.