Amer Group And KUWADICO Signs New Development Contracts

With a total area of 1.380 million m², Amer Group has signed a contract for developing Porto October located in the 6^th of October area with Kuwait Wadi Elnile Urban Development Co. (KUWADICO).

The project includes the development of 6 thousand units, malls, amusement parks, clubs besides healthcare centers and hotels.

With a total area of 54 thousand m², Amer Group has also signed a contract for developing Porto New Cairo located in the New Cairo area with the Kuwait’s NREC.

Amer Group’s financial statement for 2011 has revealed a decline of 55.6% as the net profits valued at L.E 247.083 million, compared to L.E557.080 million during 2010.