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Dubai's Emaar says arbitration dispute with Arabtec Egypt will not impact shares
The case was filed in January 2025 and claims an amount of EGP 680 million, approximately Dh53 million, in relation to a construction contract dispute in Egypt
Emaar Properties PJSC has clarified that an arbitration case against Emaar Misr for Development SAE has no impact on its shares.
In a disclosure filed with the Dubai Financial Market on December 16, the company said it is not a party to the case, which has been filed by Arabtec Egypt against Emaar Misr for Development SAE, a company listed on the Egyptian Stock Market.
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The case was filed in January 2025 and claims an amount of EGP 680 million, approximately Dh53 million, in relation to a construction contract dispute in Egypt, according to the disclosure.
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The clarification follows a media report dated December 14, 2025.
Earlier this week, Asharq Business with Bloomberg reported that Arabtec Egypt had sought compensation of up to Dh77 million from Emaar, citing price differences linked to changes in exchange rates and higher building material costs, according to sources.
The report said the arbitration followed failed attempts at amicable settlement, with negotiations affected by inflation and the gradual depreciation of the Egyptian pound since June. Asharq reported that Arabtec Egypt reassessed the original contract values, arguing they no longer reflected actual costs.
Hind Aldah
Hind Aldah covers business, tech, crypto and all that jazz for a younger audience. In her spare time, you will find her playing classical guitar, painting amateur oil paintings, or crocheting the same old scarf that leads nowhere.
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