Egypt’s Arab Developers Holding to invest EGP 1.5 billion this year

Egypt’s property development firm Arab Developers Holding, formerly Porto Group, said on Tuesday it plans to invest about 1.5 billion Egyptian pounds ($78.8 million) this year.

The company explained that the new investment will help speed up construction and delivery process.

In a bourse filling, the company further said it targets sales worth up to 2.8 billion pounds. It added that it aims to reach 3.6 billion pounds and 4.1 billion pounds in revenues, respectively for the next two years.