{"id":12347,"date":"2019-09-02T14:21:04","date_gmt":"2019-09-02T14:21:04","guid":{"rendered":"https:\/\/onplan.ae\/emaar-misr-pens-egp-1-8bn-deal-with-arabtec-construction\/"},"modified":"2019-09-02T14:21:04","modified_gmt":"2019-09-02T14:21:04","slug":"emaar-misr-pens-egp-1-8bn-deal-with-arabtec-construction","status":"publish","type":"post","link":"https:\/\/onplan.ae\/ar\/emaar-misr-pens-egp-1-8bn-deal-with-arabtec-construction\/","title":{"rendered":"Emaar Misr pens EGP 1.8bn deal with Arabtec Construction"},"content":{"rendered":"
\n

Cairo \u2013 Mubasher<\/strong>: Emaar Misr for Development<\/a>, an Egyptian unit of the Dubai-based real estate firm Emaar Properties, announced signing a contract valued at EGP 1.844 billion with UAE\u2019s Arabtec Construction for the establishment of two urban projects at Uptown Cairo in Mokattam.<\/p>\n

Construction in the two projects, which feature 449 residential units, will start immediately, the real estate developer said in a statement to the Egyptian Exchange (EGX) on Sunday.<\/p>\n

It is noteworthy that Arabtec Construction is a subsiairy of Arabtec Holding<\/a>. <\/p>\n

In July, Emaar Misr for Development inked a preliminary agreement<\/a> with El Nasr Housing and Development to end a dispute regarding Uptown Cairo land. <\/p>\n

El Nasr Housing and Development agreed to drop its lawsuit that demanded Emaar Misr to pay a compensation of EGP 1 billion and return 3 million square metres of land in Mokattam as it claims that Emaar Misr failed to develop the land. <\/p>\n

During the first half of 2019, Emaar Misr for Development\u2019s net profits declined to EGP 94.29 million<\/a>, compared to EGP 1.10 billion in the year-ago period, including minority shareholders\u2019 rights.<\/p>\n

The property developer\u2019s sales slid to EGP 1.45 billion in the January-June period of 2019 from EGP 1.75 billion in the corresponding period a year earlier.<\/p>\n

As for standalone business, the company posted a profit of EGP 94.29 million in H1-19, compared to EGP 1.1 billion in H1-18.<\/p>\n

During the second quarter of 2019, the company incurred losses of EGP 324.3 million, versus a profit of 598.49 million in Q2-18, the company\u2019s consolidated financial results showed.<\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

\n

Cairo \u2013 Mubasher<\/strong>: Emaar Misr for Development<\/a>, an Egyptian unit of the Dubai-based real estate firm Emaar Properties, announced signing a contract valued at EGP 1.844 billion with UAE\u2019s Arabtec Construction for the establishment of two urban projects at Uptown Cairo in Mokattam.<\/p>\n

Construction in the two projects, which feature 449 residential units, will start immediately, the real estate developer said in a statement to the Egyptian Exchange (EGX) on Sunday.<\/p>\n

It is noteworthy that Arabtec Construction is a subsiairy of Arabtec Holding<\/a>. <\/p>\n

In July, Emaar Misr for Development inked a preliminary agreement<\/a> with El Nasr Housing and Development to end a dispute regarding Uptown Cairo land. <\/p>\n

El Nasr Housing and Development agreed to drop its lawsuit that demanded Emaar Misr to pay a compensation of EGP 1 billion and return 3 million square metres of land in Mokattam as it claims that Emaar Misr failed to develop the land. <\/p>\n

During the first half of 2019, Emaar Misr for Development\u2019s net profits declined to EGP 94.29 million<\/a>, compared to EGP 1.10 billion in the year-ago period, including minority shareholders\u2019 rights.<\/p>\n

The property developer\u2019s sales slid to EGP 1.45 billion in the January-June period of 2019 from EGP 1.75 billion in the corresponding period a year earlier.<\/p>\n

As for standalone business, the company posted a profit of EGP 94.29 million in H1-19, compared to EGP 1.1 billion in H1-18.<\/p>\n

During the second quarter of 2019, the company incurred losses of EGP 324.3 million, versus a profit of 598.49 million in Q2-18, the company\u2019s consolidated financial results showed.<\/p>\n<\/p><\/div>","protected":false},"author":1,"featured_media":12348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/12347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/comments?post=12347"}],"version-history":[{"count":0,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/posts\/12347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media\/12348"}],"wp:attachment":[{"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/media?parent=12347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/categories?post=12347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onplan.ae\/ar\/wp-json\/wp\/v2\/tags?post=12347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}