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Emaar Square in Dh7.7b Uptown Cairo launched
Emaar Properties, the global developer of iconic projects, has strengthened its international project portfolio with the launch of Emaar Square, a ‘city within a city’ development, within its flagship Uptown Cairo project in Egypt.
The development builds on the city’s growing appeal as one of the MENA region’s most attractive real estate markets, and underlines Emaar’s commitment to invest in the economic growth of the city through iconic master planned communities.
Emaar Square will be a spectacular addition to the Dh7.7 billion (E£12.8 billion; $2.1 billion) Uptown Cairo, a mixed-use development located at the highest point of downtown Cairo.
Ahmad Al Matrooshi, managing director, Emaar Properties, said: “Emaar’s growth strategy is to create premium real estate assets in Dubai, our home market, by leveraging the positive growth of the property sector, as well as to expand our footprint in key emerging markets. Egypt is one of our key international markets where we are already developing three fully-established masterplanned communities. We are also focused on diversifying our revenue streams through our international operations as well as our shopping malls & retail and hospitality & leisure businesses. The mixed-use Emaar Square in Uptown Cairo is thus a perfect fit to our goal of creating long-term value for our stakeholders.”
Mohamed El Dahan, CEO of Emaar Misr, added: “Cairo is fast becoming one of the most attractive real estate markets in the MENA region in terms of its potential long term opportunities and growth. Uptown Cairo is a one of a kind luxury development, bringing an entirely new definition to modern living. The crowning jewel of Uptown Cairo, Emaar Square represents an exciting new chapter, a new residential and lifestyle offering that builds on our commitment to investing further in the city’s economic growth and responds to a growing demand for premium real estate. It is part of our development strategy to create a true urban masterpiece in the city.”
Emaar Square is envisaged to be a city within a city offering luxury homes. — business@khaleejtimes.com
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