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Tuesday, 29 October 2019

Porto Heliopolis construction suspended on traffic concerns

Amer Group Holding has suspended construction of its Porto Heliopolis project following an order from a "competent authority" to put the project on hold until it reviews traffic studies for the area, Amer Group said in an EGX disclosure (pdf). The company says it already submitted these studies prior to beginning construction. Amer Group launched the EGP 3 bn development earlier this month.

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