Emaar Misr, the Egyptian unit of the Emaar Dubai development company, recently announced plans of reconstruction for the Belle Vie residential project; the project that spreads across 500 acres in Sheikh Zayed City. It is the company’s second project in West Cairo after the $734 million Cairo Gate. After that announcement, Emaar Dubai announced that it wants to double its Egyptian operations as a part of the Dubai developer’s business. Seeing that Egypt currently accounts for about 15 percent of the international developer’s overall business and that it was the star performer last year, this decision came as no surprise. To remain consistent, the company would not change its focus by entering high risk areas and instead stay focused on real estate opportunities in Egypt.
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