{"id":608847,"date":"2023-10-26T00:00:00","date_gmt":"2023-10-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/26\/emaar-eyeing-up-state-owned-new-alamein-towers-plus-pfi-owned-red-sea-global-looks-toward-egypt\/"},"modified":"2023-10-26T00:00:00","modified_gmt":"2023-10-26T00:00:00","slug":"emaar-eyeing-up-state-owned-new-alamein-towers-plus-pfi-owned-red-sea-global-looks-toward-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/26\/emaar-eyeing-up-state-owned-new-alamein-towers-plus-pfi-owned-red-sea-global-looks-toward-egypt\/","title":{"rendered":"Emaar eyeing up state-owned New Alamein towers. Plus: PFI-owned Red Sea global looks toward Egypt"},"content":{"rendered":"

REAL ESTATE-<\/strong><\/p>\n

#1- Emaar Misr eyes New Alamein towers:<\/strong> Emirati real estate developer Emaar is in talks with the Egyptian government to buy high-rises along the North Coast in the New Alamein, Emaar chairman Mohamed Alabbar told Asharq Business<\/a>. Alabbar didn\u2019t disclose which towers Emaar is interested in, but an unconfirmed press report in September claimed that his Eagle Hills real estate investment firm is eyeing a takeover<\/a> of state-owned developer City Edge, which has several residential and commercial tower projects in the city.<\/p>\n

Alabbar says he\u2019s sticking with Egypt through times good and bad: <\/strong>\u201cEgypt is going through critical times, but they will end,\u201d Alabbar told the regional news outlet. The Emaar chairman also stated that Emaar Misr is not planning to delist any of its shares from the EGX and is committed to making further investments in the country.<\/p>\n

#2- Red Sea Global looks to Egypt as it expands outside KSA: <\/strong>Saudi Arabia\u2019s global multi-project developer Red Sea Global considers Egypt \u201can important market\u201d and among key markets for the company outside of Saudi, CEO John Pagano told Asharq<\/a> in an interview. The company, which is wholly-owned by the Saudi Public Investment Fund, rebranded last year from Red Sea Development as it plans to \u201cexport what it does abroad\u2026and seeks to benefit from experiences and opportunities in Europe and beyond.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Emaar chairman stated that the company is committed to making further investments in the country<\/p>\n","protected":false},"author":1,"featured_media":608848,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,3202,11484,1527,72,103,1444,7345,83,219,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-608847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-city-edge","tag-eagle-hills","tag-emaar-misr","tag-enterpriseam","tag-fdi","tag-mohamed-alabbar","tag-public-investment-fund","tag-real-estate","tag-saudi-arabia","tag-uae","wpautop","entry"],"acf":{"mongo_id":"15be6005-0654-4f32-9bd9-100c9506e2d3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1318.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emaar eyeing up state-owned New Alamein towers. 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investments in the new administrative capital and Sixth of October City as it maintains a positive outlook on Egypt\u2019s real estate industry,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627043,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/18\/emaar-wants-to-double-egypt-investments-to-egp-100-bn-over-the-next-five-years-alabbar\/","url_meta":{"origin":608847,"position":3},"title":"Emaar wants to double Egypt investments to EGP 100 bn over the next five years -Alabbar","author":"enterpriseam admin","date":"18 July 2018","format":false,"excerpt":"INVESTMENT WATCH- Emaar wants to double Egypt investments to EGP 100 bn over the next five years: UAE-based real estate developer Emaar is looking to double its investments in Egypt to EGP 100 bn over the next five years, Founder and Chairman Mohamed Alabbar tells Al Mal in an interview.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567987,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/bishoy-azmy-becomes-youngest-member-of-aucs-board-of-trustees\/","url_meta":{"origin":608847,"position":4},"title":"Bishoy Azmy becomes youngest member of AUC\u2019s board of trustees","author":"enterpriseam admin","date":"14 December 2020","format":false,"excerpt":"CEO of Dubai-based ASGC construction group and AUC alumnus Bishoy Azmy (LinkedIn) has joined the American University in Cairo\u2019s Board of Trustees as the board\u2019s youngest member, according to an emailed statement (pdf). Azmy is also a board member of the local Emirates Chapter of the Young Presidents Organization, an\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/245.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":620063,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/15\/emaar-misr-eyes-stakes-in-albro-north-coast-skytower\/","url_meta":{"origin":608847,"position":5},"title":"Emaar Misr eyes stakes in Albro North Coast, Skytower","author":"enterpriseam admin","date":"15 May 2024","format":false,"excerpt":"Emaar Misr\u2019s shares gained 13.8% during trading yesterday to close at EGP 5.28 following the announcement","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1091.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=608847"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608847\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/608828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/608848"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=608847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=608847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=608847"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=608847"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=608847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}