Arab Finance: Porto Dead Sea, a unit of Arab Developers Holding, signed a land title transfer agreement with Jordan Free and Development Zones Group (JFDZ), according to a bourse filing.
The deal involves the first phase of the beachfront plot within the Porto Dead Sea project in Jordan, which spans 8,000 square meters at $2.6 million.
With a total expected investment estimated at $362 million, the scheme covers 800,000 square meters, including a 20,000-square-meter beachfront plot and a 720,000-square-meter mountainside plot.
The development is planned as an integrated tourism, leisure, and hospitality complex.
In the first quarter (Q1) of 2026, the EGX-listed group turned profitable at EGP 29.105 million, compared with consolidated net losses attributable to shareholders worth EGP 28.921 million in Q1 2025.
