Cairo – The extraordinary general meeting (EGM) of Emerald Development & Projects Management approved merging the company, as well as Emerald Real Estate Investment, Edge Development and Project Management, Odin Investment & Development, and Odin for Investment and Real Estate Marketing in Egyptians for Housing and Development Co.

The merger is concluded as per the book value as of 31 December 2021 (Date of Merger), according to a stock exchange disclosure on Tuesday.

Following the merger, shares of the merging company will be distributed among shareholders of all the companies.

Earlier this week, Emerald Real Estate and Odin Investment approved their merger with Egyptians for Housing.

It is worth noting that in the first half (H1) of 2022, Egyptians for Housing recorded a net profit of EGP 11.53 million, compared to EGP 14.38 million in the year-ago period, including minority shareholders’ rights.

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