Emaar Misr for Development (EMFD) has reported a 40.77% year-on-year (YoY) growth in net profits after tax during the first quarter (Q1) of 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 31st.

The real estate developer has recorded EGP 2.226 billion in net profit after tax, compared to EGP 1.581 million in Q1 2022.

Revenue dropped to EGP 1.863 billion in Q1 2023 from EGP 2.571 billion in Q1 2022.

Established in 2007, Emaar Misr is engaged in real estate development operations. It undertakes commercial and residential development projects such as residential villages and communities, business centers, malls, and shopping complexes, villas, townhouses, and apartments.


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