Dubai’s Alabbar wants to double Emaar’s Egypt business

RIYADH: Emaar chief Mohamed Alabbar wants to double its Egyptian operations as a proportion of the Dubai developer’s business.
The property tycoon behind some of Dubai’s most famous landmarks told Asharq Business that the country currently accounts for about 15 percent of its overall business and that it was the star performer last year.
He said that the company would not change its focus by entering high risk areas and instead stay focused on real estate opportunities in the country.
It comes after Emaar announced its latest plans for the reconstruction of West Cairo.
Emaar Misr, the Egyptian unit of the Dubai development company, last week announced plans for the Belle Vie residential project, spread across 500 acres, in Sheikh Zayed City. It is the company’s second project in West Cairo after the $734 million Cairo Gate.