Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    SCZONE showcases investment opportunities to eight Japanese companies    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Alabbar named executive chairman of Emaar Misr
Emaar Misr has made many recent amendments to its leadership
Published in Daily News Egypt on 13 - 10 - 2015

Stock market-listed Emaar Misr announced on Tuesday that founder of Dubai-based Emaar Properties Mohamed Alabbar, is the new Executive Chairman of Emaar Misr.
Alabbar was the non-executive chairman of Emaar Misr, after the company's announcement in August, while Mohamed El Dahan was named the Managing Director.
In early April, the company announced it was considering making amendments in the company's leadership. In a 20 April meeting, however, Chairman Mohamed Alabbar retained his position, as shareholders reselected him for the role.
Alabbar signed a memorandum of understanding (MoU) with the Egyptian Ministry of Housing last March, during the Egypt Economic Development Conference (EEDC), to build a giant real estate project named the Cairo Administrative Capital.
To that effect, Alabbar founded Capital City Partners to implement the project. However, both parties have disagreed on the terms of the contract, and the MoU has yet to be converted into an agreement.
The government is looking for other companies to participate in the project.
The Egyptian arm of the UAE real estate developer Emaar has recorded a 283% increase of net profit in the first half (1H) of 2015, recording EGP 522m, while revenues registered EGP 1.56bn.
In February 2015, the EGX announced that Emaar Misr formally requested listing its shares on the stock market. The company offered 600m shares, around 13% of the company's capital, with the total value of EGP 2.3bn.
Emaar was behind Burj Khalifa, and identifies itself as being "the largest foreign direct investor in Egypt's real estate sector with an investment portfolio of EGP 53bn". Its constructed and ongoing projects in Egypt are Uptown Cairo, Cairo Gate, Marassi and Mivida.


Clic here to read the story from its source.