Amer subsidiary borrows EGP 450 mn from Ahli United Bank for Porto Heliopolis project

Amer Group subsidiary Delmar For Touristic Development signed a loan contract with Ahli United Bank for EGP 450 mn on Wednesday to finance the Porto Heliopolis project, the company said in an EGX filing (pdf). The project is the first integrated residential compound in the Heliopolis area, and is situated on 27k sqm directly overlooking El Thawra Street.