Porto Group Chairperson Gamal Fathallah has said that the companys Board of Directors have approved the companys 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 companys shareholder structure in addition to the companys ambitious vision.
Fathallah added that the change of the companys brand acts in accordance with the new boards vision and its desire for significant and formal changes.
Gamal stressed that the companys 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 boards accumulated experiences.
The plan concentrates on accelerating progress in current projects in a short time to fulfil the companys 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 economys 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.
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