27
Emaar Misr, the Egyptian arm of Dubai’s Emaar Properties, will start a development study Cairo Gate Project.
In 2012, the two UAE based international real estate giants, Al-Futtaim Group and Emaar signed a Joint Venture agreement worth 5 billion Egyptian pounds to develop ‘Cairo Gate’, the largest lifestyle and entertainment development on an Emaar Misr property of 160 acres of prime land on the Cairo- Alexandria desert highway.
Elsewhere, Emaar Misr’s board of directors also agreed to establish a new branch for the group in Mivida project in New Cairo district. The board chose Riham Mohamed Ehsan to be the manager to Emaar Misr’s branch in Mivida.
Emaar Misr has registered a 283.8 percent growth in its six-month profits this year.
