Egytian developer Amer Group said on Tuesday that it is not going ahead with the planned Sohag New City project in Sohag governorate.

The company said in a stock exchange statement that it decided to drop the project after conducting feasibility studies.

In August, the EGX-listed firm had disclosed that feasibility studies for the project were underway, adding that land acquisition hasn't been finalised.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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