MIDAR and Emaar Misr partner for $277mln residential project in East Cairo

Egypt-based master developer MIDAR and Emaar Misr, the local subsidiary of Dubai-listed real estate giant Emaar Properties, have signed an agreement worth 14 billion Egyptian pounds ($277 million) to develop the first integrated residential project in East Cairo.

The agreement involves the EGX-listed Emaar Misr developing a 500-acre residential complex within MIDAR’s Mada master plan under a revenue-sharing model.