Egypt’s Amer Group to invest over $104mln in new Porto Sokhna Phase

EGX-listed real estate and hospitality developer Amer Group said its subsidiary Tropi 2 for Development has secured a license from the General Authority for Tourism Development to launch Polotano, the latest phase of its flagship Porto Sokhna project.

A press statement issued by the company said the new phase represents an investment of over 5 billion Egyptian pounds ($104 million) and will add 2,086 residential and commercial units.

The project is an extension of Porto Sokhna, the 2.5-million-square-meter (sqm) resort community overlooking the Red Sea that was first launched in 2007.

Polotano will feature the first polo fields on the Red Sea, a horse-riding school, sports facilities, a water park, Egypt’s first mountaintop lazy river in Ain Sokhna, and a 4,000-sqm spa.

In parallel with the new phase launch, Amer will undertake renovations to the hotel within Porto SOkhna to increase its capacity to 200 rooms, the statement said.