Emaar Injects EGP 5 bln New Investments

Emaar has affirmed that it has EGP 5 billion new investments in Egypt; elaborating that it is committed to boosting its investments in Egypt.

Egypt’s Minister of Investment has announced lately signing partnership contract between Emaar and Al-Futtaim Group to establish joint ventures with EGP 5 billion investments in Egypt in the coming period.

Emaar, in its statement, elucidated that the signed partnership contract with Al-Futtaim Group aims at developing “Cairo Gate” venture, which has huge commercial mall, housing units and offices.

According to the company’s statement, through this contract Al-Futtaim Group aims at developing “Cairo Festival City”, which includes compounds, offices, facilities and Festival Center.

Emaar Company works in Egypt through Emaar Misr, the biggest real estate companies in the Egyptian real estate market. Its capital is EGP 31.67 billion.