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FINANCIAL NEWS
Dubai’s Emaar launches mixed-use development in Cairo
02 Oct 2012
(MENAFN) Dubai-based developer Emaar Properties has launched construction works for Emaar Square project in Cairo, Egypt, official WAM news agency reported.
Emaar Square, a mixed-use development, is part of Emaar’s expansion strategy in key emerging markets to drive growth.
The project is located in Egypt’s USD2.1 billion Uptown Cairo development and will include Egypt’s largest open mall, five-star Adress Hotel and serviced residences, Emaar said in a statement.
“Egypt is one of our key international markets where we are already developing three fully-established master planned communities,” Ahmad Al Matrooshi, managing director at Emaar, said in the statement.
Emaar Square will also create thousands of new jobs in different fields, which will contribute to the Egyptian economy and overall welfare, it added.
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