Egypt’s property developer Porto Group announces on Tuesday its rebrand to Arab Developers Holding.
The new brand is to reflect the structure of the shareholders, the change came in the context of the presence of several Arab investors in the shareholders structure, in addition to the company’s ambitious vision, said Gamal Fathallah, Porto Group chairman, in a statement.
The company’s general assembly conducted on Sunday, January 9, and has approved the new name.
Fathallah said the change of the company’s brand acts in accordance with the new board’s vision and its desire for significant and formal changes that contribute to enhance the company’s reputation in the market and benefit from its history.
The new name comes also in line with the company’s latest plan to finalise its current projects in short time and launch new successful investment opportunities for stakeholders, he added.
“We remain committed to maximise the value for our stakeholders by managing the risks and seizing opportunities with an expert eye on the latest updates in the real estate industry.” Fathallah stated.
He said the company’s plan concentrates on accelerating progress in current projects in short time to fulfil the company’s contractual obligations to the clients.
Meanwhile, Ayman Bin Khalifa, Porto Group chief executive, said the new brand focuses on the integration of the stakeholders with the future visions and opportunities to create group that can provide the utmost attention to the needs of our stakeholders.
“The strong and diverse experience of Arab Developers Holding made us a promising destination for Arab investors to cultivate successful business rewards.” Bin Khalifa added.
Speaking more on the plan of the board and the new investors, he said the company seeks to seize the opportunities that are offered by the state in the new cities.
He also noted that the strong experience of Arab Developers Group in the real estate market was the driving force for several Arab investors to contribute to the group’s promising high return of investment.
During the COVID-19 pandemic, Bin Khalifa said Egypt’s promising economic growth indicators and the success of the political leadership in managing the crisis have grabbed the attention of the world to invest in country. These factors have in fact attracted the investors’ attention on the importance of the presence in the Egyptian market, he added.
