According to the company’s financial statements filed with the Egyptian Exchange, Emaar Misr for Development (EMFD) reported a consolidated net profit of EGP 529.120 million in quarter one (Q1) 2021.
When compared to EGP 247.561 million in Q1 2020, this represented a 114 percent year on year (YoY) increase.
In Q1 2021, standalone net profit was EGP 529.120 million, up 114 percent from EGP 247.561 million in the previous year.
According to Emaar’s founder, Mohamed Alabbar, the company plans to double its Egypt operations to 30 percent of its overall business.
Emaar Misr was founded in 2007 and is involved in real estate development. It manages business and residential projects such as residential villages and neighbourhoods, business centres, malls and commercial complexes, villas, townhouses and flats.
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