Is Emaar Misr’s EGP 878 mn donation to the state related to its ongoing dispute with El Nasr Housing?

Watch this space: Emaar Misr has donated EGP 878 mn to national megaprojects, a form of corporate largesse that Public Enterprise Minister Hisham Tawfik told Al Mal over the weekend is unrelated to the real estate developer’s ongoing dispute with state-owned El Nasr Housing. The donation was announced on Thursday and comes a little more than a month after Emaar was said to be nearing a settlement agreement with El Nasr over a land dispute and delays in Emaar’s Uptown Cairo project. Tawfik told Al Mal yesterday that a “permanent” resolution to the dispute is expected soon. An arbitration case against Emaar Misr filed by El Nasr Housing was still being reviewed last month (pdf) by the Cairo Regional Centre for International Commercial Arbitration.