Emaar Misr net income doubles in 2Q2021

Emaar Misr’s net income almost doubled in 2Q2021 to EGP 801.1 mn, up from EGP 409 mn in the same period last year, according to the real estate developer’s latest earnings statement (pdf). The hike came as revenues almost tripled to reach EGP 2.24 bn, up from EGP 795.4 mn in 2Q2020. This the second consecutive quarter of strong growth by the real estate developer after it reported a 114% rise in net income and a 57% increase in revenues in 1Q.