Cairo – Mubasher: The board of directors of Emaar Misr for Development has approved credit facilities agreements to cover the company’s future financing needs.
The board further approved future expansions of the Soul project as per the partnership concluded with Eagle Hills Egypt for Projects and Investment Management, according to a bourse statement on Sunday.
Last month, Emaar Misr penned a partnership contract with Eagle Hills Egypt, acquiring 25% of Eagle Hills’ capital.
In June 2022, the ordinary general meeting (OGM) of Emaar Misr approved a partnership with Eagle Hills to develop a residential, tourist, and commercial project in the North Coast region.
During the first half (H1) of 2022, the consolidated net earnings of Emaar Misr surged by 131.55% on an annual basis to EGP 3.08 billion, compared to net profits of EGP 1.33 billion in H1-21, including minority shareholders’ rights.
