Porto Group Chairperson Gamal Fathallah has said that the company’s Board of Directors have approved the company’s new name Arab Developers Holding, to reflect the structure of the shareholders.
The change came in the context of the presence of several Arab investors in the company’s shareholder structure in addition to the company’s ambitious vision.
Fathallah added that the change of the company’s brand acts in accordance with the new board’s vision and its desire for significant and formal changes.
Gamal stressed that the company’s current board assumed its duties a year and a half ago during the COVID-19 pandemic and succeeded despite the crisis in developing a plan that reflects the board’s accumulated experiences.
The plan concentrates on accelerating progress in current projects in a short time to fulfil the company’s contractual obligations to the clients.
CEO Ayman Bin Khalifa said that the new brand focuses on the integration of stakeholders with future visions and opportunities to create a group that can provide the utmost attention to the needs of our stakeholders.
He noted that during the coronavirus pandemic, the Egyptian economy’s announced growth indicators and the success of the political leadership in managing the crisis, maintaining the movement of the economy, and working on all economic sectors contributed to achieving growth rates that grabbed the attention of the world to invest in Egypt and attracted investors’ attention to all economic sectors.