Egyptian real estate company Amer Group's third-quarter net profit fell 56.4 per cent, it said in a bourse statement.

Amer Group made a net profit of E£43.6 million ($5.38 million) in the third quarter compared to E£100 million ($12.3 million) in the same quarter a year earlier, it said.

It made E£111.4 million ($14.23 million) in the first nine months of the year, compared with E£168.5 million ($21 million) in the same period a year earlier.

The Egyptian real estate company had in April started the construction of a JD150 million ($211 million) resort on Jordan's Dead Sea coast.

The 440-room resort is part of the first phase of the $1-billion Porto Dead Sea project, including four five-star hotels, three malls and a health and spa centre to be constructed over seven years.-Reuters and TradeArabia News Service