Amer Group Holding Co announced that its subsidiary Amer Tourism Development has signed a contract to establish a school with a cost of EGP 60 million in Porto Said.

The real estate developer signed an agreement with Advanced Education Co. owned by Nermien Ismail Language Schools (NIS), according to a statement to the Egyptian Exchange (EGX) on Sunday.
Spanning over 14,748 square metres, the school is scheduled to be opened on 1 September 2020, the statement added.

During the first half of 2019, Amer Group’s net profits plunged to EGP 25.42 million, compared to EGP 55 million in the prior-year period.

-Mubasher