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FINANCIAL NEWS
Dubai’s Emaar is still operating in Egypt
13 Jul 2012
(MENAFN) Emaar Properties refuted recent reports that it has pulled out its operations from Egypt, reported Xinhua News.
The biggest real estate developer in the Middle East said that Emaar Misr, its Egyptian subsidiary has not stopped or suspended its operations in the country, in spite of the continuing political events.
It added in a statement issued to the Dubai Financial Market (DFM) that the firm’s operations in the North African country have been operating as usual without any disruption.
It is worth noting that last year, the builder of Dubai’s Burj Khalifa, the world’s largest tower, signed around USD283 million worth of contracts in Egypt, related to the construction of the Ara Uptown Cairo, Marassi Egypt and Mivida, all being under construction at the current time.
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