Emaar Misr inks EGP1.7 billion contracts in 2011 and to deliver Uptown this year

Hazem Ashry, General Manager of Emaar Misr, said that his company has accelerated the execution of its projects and expansions in Egypt during 2011, being confident in this promising market. This policy reflects the realty developer's keenness on boosting the Egyptian economy at present.

Ashry said on the sidelines of Cityscape that Emaar Misr is marching ahead with completing its outstanding developments in Cairo, New Cairo and Sidi Abdel Rahman. He added that Emaar accomplished several breakthroughs last year through finalizing some projects and inking new contracts.

The top official confirmed that demand grew for his company's products last year. This overwhelming response highlights Emaar's reliability and top-quality projects.

The wholly-owned subsidiary of UAE-based Emaar Properties proved its commitment to the local market. It is working on completing Uptown Cairo, Mivida and Marassi, Ashry noted.

Emaar signed contracts at a total value exceeding EGP 1.7 billion last year with several Egyptian and global contracting companies to finalize ongoing projects, of which Uptown Cairo accounted for approx. EGP 567 million.

Source: Mubasher Exclusive