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Emaar Misr lays foundation stone for Sheikh Zayed project

Emaar Misr lays foundation stone for Sheikh Zayed project

ArabFinance:   Emaar Misr has laid the foundation stone of Cairo Gate project in Sheikh Zayed coincided with the launching of the project’s second phase, according to the company recent press release. 

Cairo Gate is Emaar Misr’s first project in west Cairo, spanning an area of 133 acres at the heart of Sheikh Zayed, with investments amounting to EGP 11.5 billion.

The company launched the first phase of Cairo Gate last March, becoming its first integrated residential project in Sheikh Zayed, west of Cairo. In addition to villas, housing units, and serviced apartments, it also comprises a business workspace, commercial areas, and a hotel.

Emaar Misr has recently contributed EGP 878 million to national projects implemented by the Egyptian cabinet, in addition to EGP 10 million last April to Tahya Misr Fund and the medical sector to support the Egyptian government’s efforts in facing the repercussions of Covid-19.

The real estate developer recorded EGP 581.53 million worth of profit in the first half (H1) of 2020, a 516.7% surge from EGP 94.29 million in H1 2019.

Established in 2007, the company is engaged in real estate development operations. It undertakes commercial and residential development projects such as residential villages and communities, business centers, malls, and shopping complexes, villas, townhouses, and apartments.

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