CEO of the Egyptian General Investment Authority (GAFI) Mohamed Abdel Wahab, declared the endorsement of the foundation of another project area for Emaar Misr for Development Company, with speculations of LE 40 billion in investments.
Abdel-Wahab expressed in an assertion to the Egyptian Cabinet that the new Investment Zone will flood the market with 77,000 job opportunities
Emaar Misr recorded a net profit of LE 1.02 billion during the initial nine months of 2020; contrasted with LE 628.99 million during the similar time frame of 2019.
The Egyptian arm of the property giant , Emaar Misr, works inside the Real Estate area. Significantly, it’s zeroing in on Diversified Real Estate Activities.
Emaar is one of Egypt’s biggest real-estate developers. Established back in 2007, it became famous for its upscale projects. Its investment capital in Egypt is 31.67 billion EGP. Basically, purchasing a property under the Emaar brand name guarantees exclusive and magnificent delivery.
Emaar Misr first opened the EGP 1.5 bn ($93.8 m) Al Alamein Hotel in 2018 in Sidi Abdelrahman bay. In summary, The developer’s investments in Egypt amount to EGP 200bn. That’s divided into EGP 55 bn ($3.4 bn) investment in the entire Marassi area and an EGP 11.5 bn ($719m) investment in the newly-launched project, Cairo Gate. While the company’s investments in its Sheikh Zayed land may sum up to EGP37.8bn ($2.4bn) in the coming period.
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