Amer Group revises Porto Said cost estimates upwards to EGP 4 bn

Amer Group has revised its investment cost estimates for its Porto Said residential tourism project upwards to EGP 4 bn, the company said in an EGX disclosure (pdf). The project was previously estimated to cost EGP 3 bn when it was announced last April. The cost revision comes after the company said last week that it expects to inaugurate the project this quarter.