Emaar Misr invests in community development with a view of achieving social justice: Chairman Abbar
Cairo, April 14, 2019 – Real estate developer Emaar Misr for Development is donating EGP 878 million (approximately $50 million) to develop slum areas and informal settlements in Egypt.
The donation is part of Emaar Misr’s efforts to help improve living conditions of hundreds of underprivileged households across Egypt and offer well serviced housing for hard-up slum residents.
“Emaar has been able to win the confidence of the Egyptian people through a range of distinguished projects it has carried out in Egypt. As a real estate developer, we are not only concerned with creating investment projects but also with offering equal living opportunities for everyone. Our donation to develop slums stems from our longstanding belief that such projects are instrumental in achieving human development and contributing to the country’s economic growth and that of the region. At Emaar Misr, we believe that taking part in community development initiatives has a far-reaching impact on achieving social justice,” said Mohamed Al Abbar, Chairman of Emaar Properties.
“I urge all private companies and businessmen to be actively involved in community initiatives to fulfil their duty towards the society where they work in and to support government efforts in this regard,” he added.
Last year, Emaar Misr launched the Beyout Al Kheir housing project in cooperation with Egypt’s charity organization Misr El Kheir to improve poor living conditions for thousands of low-income families across Egypt. For every unit it builds in its developments, Emaar Misr will offer a residential unit for a disadvantaged family.
One of the biggest development projects in Egypt, the $15 million scheme to be executed over three years also aims to create job opportunities and income-generating projects to enhance living standards of low-income families across Egyptian villages and cities.
Emaar Misr is one of the largest real estate companies in Egypt and the developer of a number of iconic projects such as Uptown Cairo in the heart of Cairo, Mivida in New Cairo and Marassi in the North Coast.