Emaar Misr’s total investment portfolio in Egypt will reach EGP 53bn during 2013, said the company’s chief marketing officer, Nabil Amasha, during the press conference held at the Cityscape real estate exhibition in Cairo on Thursday.
During the conference, Emaar also announced that it has signed construction contracts for three projects worth EGP 500m million during the first quarter of 2013.
“This expansion of our investment portfolio in Egypt shows our company’s confidence in the Egyptian real estate market,” said Amasha. “We expect it to recover very soon in the middle to long term.”
“We are very optimistic”, he continued. “There is healthy competition in the market now, and from our end, we never over promise to our clients as we understand the market fundamentals very well and have a transparency policy with them.”
Lamia Nabil / Daily news Egypt