By: Rami Sameh

Abu Dhabi - Mubasher: The chairman of Emaar Properties, Mohamed Al-Abbar, said that his company is planning to expand its operations in the Egyptian market despite the challenging economic situation.

Al-Abbar also told Mubasher, on the sidelines of the Bloomberg Middle East markets most influential summit in Abu Dhabi, that Egypt has a promising market with great potential, adding that Emaar has already asked to take part in new projects in Egypt.

Emaar’s chairman didn’t reveal more details regarding the company’s new investments in Egypt, but he said that although there are currently some hard circumstances in Egypt, Emaar is looking forward to the next four of five years.

The Emirati real estate developer’s portfolio in Egypt includes investments that total nearly EGP 53 billion.

Translated by: Moslem Ali