Arab Finance: Emaar Misr for Development (EMFD) has reported a 13.27% year-on-year (YoY) increase in net profit after tax during the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 15th.

The real estate developer has recorded EGP 3.488 billion in net profit after tax, compared to EGP 3.08 billion in H1 2022.

Revenue dropped to EGP 5.692 billion in H1 2023 from EGP 7.025 billion in H1 2022.

Established in 2007, Emaar Misr 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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