ArabFinance: Emaar Misr for Development (EMFD) posted a consolidated net profit of EGP 529.120 million in quarter one (Q1) 2021, according to the companys financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 114% when compared to EGP 247.561 million in Q1 2020.

Standalone net profit reached EGP 529.120 million in Q1 2021, a 114% increase from EGP 247.561 million posted in the prior-year period.

Emaar plans to double its Egypt operations to 30% of its overall business, Asharq Business cited founder of Emaar, Mohamed Alabbar.

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.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.