Emaar Misr, a subsidiary of Dubai-based developer Emaar Properties, announced the launch of its Belle Vie residential project, spread over an area of 500 acres, in Sheikh Zayed City.

Bella Vie would be Emaar Misr’s second project in West Cairo after the 11.5 billion pounds ($734 million) Cairo Gate, which was launched in October 2019, according to a company statement.

The project comprises of apartments, townhouses and villas, according to Emaar Misr’s website.

Last week, Zawya Projects had reported that Emaar Misr had signed a development agreement with the New Urban Communities Authority (NUCA) to obtain land for a residential project in Sheikh Zayed City. The report, quoting a stock exchange statement, said the overall investments in the project is expected to reach 37.8 billion pounds ($2.4 billion).

In February, Emaar Misr had announced it is investing 3.4 billion pounds ($217 million) in hospitality projects in Egypt’s North Coast area along the Mediterranean Sea. 

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(1 US Dollar = 15.67 Egyptian Pounds)
(anoop.menon@refinitiv.com)

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