Egyptian Real Estate Giant Porto to Invest $500 Million in Agadir Commercial Project

Called Porto Agadir, the project includes the construction of commercial buildings in the southern coastal city of Agadir. It is part of a $1.27 billion investment made by the company, which intends to carry out similar constructions in the Egyptian cities of Cairo and Assiut, according to a statement from the management.

For CEO Ayman Ben Khalifa, this investment is of crucial importance for the Porto group, as the majority of its real estate assets are currently located in Egypt.

In addition to Agadir, the company plans to invest near the Dead Sea. These projects demonstrate the Porto group’s willingness to look beyond the Egyptian borders to diversify its business across Africa. All of this on land purchased by the company over the past two years, the note specifies.