Arab Finance: Emaar Misr for Development (EMFD) has acquired 25% of Eagle Hills Egypt for Projects Management and Investment’s capital, according to a statement published on August 28^th.

This came as part of the signed partnership contract between Emaar Misr and Eagle Hills Egypt.

On June 22^nd, Emaar Misr’s ordinary general meeting (OGM) agreed to enter into a partnership with the Egyptian unit of the Abu Dhabi-based developer Eagle Hills in a residential, tourism, and commercial project in Egypt’s North Coast.

Through the partnership, Emaar Misr had to either purchase 25% of Eagle Hills Egypt’s share capital at a nominal value of EGP 15.625 per share or sign partnership and management agreements to participate in 25% of the project and its profits.

Established in 2007, Emaar Misr is a real estate developer that operates commercial and residential development projects such as residential villages and communities, business centres, malls, shopping complexes, villas, townhouses, and apartments.

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