ArabFinance: Emaar Misr reported a 62% Year on Year increase in its consolidated net profit in the first nine months of 2020, according to the company’s November 15th financial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 1,021,924,138 in the January-September period of 2020, compared to EGP 628,995,310 achieved in the prior-year period.

Standalone net profit also reached EGP 1,021,924,138 in the January-September period of 2020, a 62% rise from EGP 628,995,310 posted in the corresponding period a year earlier.

The company has laid the foundation stone of Cairo Gate project in Sheikh Zayed coincided with the launching of the project’s second phase.

Established in 2007, the company 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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