Arab Finance: Emaar Misr for Development is currently in talks with Samla and Alam AlRum for Urban Development, a subsidiary of Dallah Al Baraka Group, to explore a potential partnership for the development of a new mixed-use project, as per a disclosure to the Egyptian Exchange (EGX).

The real estate developer will keep the market updated with any material developments regarding these negotiations in due course.

In an interview with Asharq Business on October 29^th, the Founder of Emaar Properties Mohamed Alabbar said that the company prepares to sign an agreement with a Saudi partner to develop a new project in Egypt within the coming weeks.

On the sidelines of the Future Investment Initiative in Riyadh, Alabbar highlighted that talks are underway with Abdullah Saleh Kamel, Chairman of the Board of Directors of Dallah Albaraka Holding Group, to finalize the development of a prime piece of land.

Founded in 1997 in the UAE, Emaar Properties has grown into one of the world’s largest real estate developers.

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