Emaar Misr for Development, a wholly owned subsidiary of UAEâ€™s Emaar Properties, will continue its operations in Egypt, as they have not been impacted by the recent protests and political unrest currently engulfing the country, an official source in the Egyptian unit said.
Declining to speak about any possible changes in his companyâ€™s future strategy for the local market, the source said no sabotage or destruction had hit any location as the developer had resumed regular work on Sunday, Feb. 6th.
In a related context, Orascom Construction Industries (OCI), Egypt’s biggest listed builder, has recently announced inking a deal with Emaar Misr to carry out EGP 800 million worth of commercial work at both projects of Marassi and Mivida.
Emaar Misr is currently developing Uptown Cairo, a complete residential project at Muqattam, Marassi project on the Mediterranean coast and Mivida, a residential complex spread over huge green gardens at New Cairo.
Mohammed Al Abbar, Chairman of the Dubai-based Emaar, said in previous press statements that his companyâ€™s projects in Egypt were going on as scheduled through synergies with top local contractors.