{"id":104622,"date":"2025-06-16T00:00:00","date_gmt":"2025-06-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/emirates-properties-group-launches-aed-350-mn-dubai-project-emaar-misr-plans-another-egypt-project\/"},"modified":"2025-06-16T00:00:00","modified_gmt":"2025-06-16T00:00:00","slug":"emirates-properties-group-launches-aed-350-mn-dubai-project-emaar-misr-plans-another-egypt-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/06\/16\/emirates-properties-group-launches-aed-350-mn-dubai-project-emaar-misr-plans-another-egypt-project\/","title":{"rendered":"Emirates Properties Group launches AED 350 mn Dubai project + Emaar Misr plans another Egypt project"},"content":{"rendered":"<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Emirates <\/strong><strong>Properties Group AED 350 mn branded residences in Dubai:<\/strong> Real estate developer Emirates Properties Group has launched Azha Millennium Residences, with 196 residential units and an AED 350 mn investment ticket, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/emirates-properties-launches-dh350-million-azha-millennium-residences-as-dubais-branded-home-supply-grows-kvjaxiwj\" style=\"\" rel=\"noopener\">press release<\/a>. The development in Jumeirah Village Triangle in Dubai will include residential units and retail spaces, and is slated for completion in 4Q 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">#2- Emaar is setting up a project on Egypt\u2019s Red Sea: <\/strong><span style=\"background-color: transparent;\">Emaar Properties\u2019 Egyptian arm, Emaar Misr Properties, is developing a 10 mn sqm integrated tourism project on Egypt\u2019s Red Sea in collaboration with Saudi-owned real estate developer City Stars Properties, three sources told <\/span><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/86327\/%D8%A5%D8%B9%D9%85%D8%A7%D8%B1-%D8%AA%D8%B7%D9%88%D8%B1-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%A8%D8%AD%D8%B1-%D8%A7%D9%84%D8%A3%D8%AD%D9%85%D8%B1-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D8%A8%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/?utm_source=facebook&amp;utm_medium=social&amp;utm_campaign=asharq_business_egy_fb\" rel=\"noopener\">Asharq Business<\/a><span style=\"background-color: transparent;\">. Emaar will develop the project in exchange for a percentage of the revenues. City Stars owns the land plot.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The project will be rolled out in six phases, with the first covering 2 mn sqm and including residential units, four- and five-stars hotels, a commercial complex, and entertainment facilities. The project is expected to generate over EGP 500 bn in revenues once it is completed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Emaar has been keeping busy, having <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4cfcf804-1cbb-4187-a237-f546fb91c1fd\" style=\"\" rel=\"noopener\">inked<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4cfcf804-1cbb-4187-a237-f546fb91c1fd\" style=\"\" rel=\"noopener\">an<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4cfcf804-1cbb-4187-a237-f546fb91c1fd\" style=\"\" rel=\"noopener\">agreement<\/a> earlier this year with Midar Investment to establish the AED 7.3 bn (c. EGP 100 bn) New Mivida residential project in New Cairo in Egypt. Emaar has already invested an initial USD 80 mn in the project, and plans to invest some USD 1 bn in Egypt this year.<\/p>\n<p class=\"tag-border-left\">RETAIL- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Newly-consolidated <\/strong><strong>Adcoop<\/strong> <strong>launched in Al Ain<\/strong>: Mair Group\u2019s Abu Dhabi Cooperative Society (Adcoop) has launched in Abu Dhabi\u2019s Al Ain, according to a <a target=\"_blank\" href=\"https:\/\/uaenews247.com\/2025\/06\/12\/al-ain-cooperative-society-becomes-adcoop\/\" style=\"\" rel=\"noopener\">press release<\/a>. The expansion will see 34 Al Ain Coop and Earth stores rebranded under the Adcoop entity, bringing the retail group\u2019s total footprint to over 100 shops in the emirate. AED 5 mn is earmarked for store upgrades and hiring going forward.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Adcoop was rebranded <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/mair-group-rebrands-abu-dhabi-cooperative-society-adcoop-merging-seven-leading-brands-under-single-identity\/\" style=\"\" rel=\"noopener\">last November<\/a>, with Mair Group consolidating seven retail brands \u2014 Abu Dhabi Coop, Al Ain Coop, Al Dhafra Coop, Delma Coop, and Mega Mart \u2014 into a single entity.<\/p>\n<p class=\"tag-border-left\">DEBT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/agilityglobal.com\/\" style=\"\" rel=\"noopener\">Agility<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/agilityglobal.com\/\" style=\"\" rel=\"noopener\">Global<\/a><\/strong><strong>\u2019s<\/strong><strong> Dubai-based energy logistics subsidiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tristar-group.co\/\" style=\"\" rel=\"noopener\">Tristar<\/a><\/strong><strong> has secured a USD<\/strong><strong> 255 mn credit facility from a syndicate of regional and international banks<\/strong>, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/734.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The 18-month facility, which includes an extension option and is expected to be upsized by another USD 60 mn within three months, will go towards refinancing and general corporate spending. <\/p>\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai\u2019s Roads and Transport Authority (RTA) signed an MoU with Uber and Chinese<\/strong><strong> autonomous driving firm WeRide to kick off operational trials<\/strong> of self-driving vehicles this year, according to an RTA <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/rta-signs-mou-with-uber-technologies-and-weride-to-launch-pilot-operations-of-autonomous-vehicles\" style=\"\" rel=\"noopener\">statement<\/a>. The pilot will begin through the Uber app and with safety operators in the cars, ahead of a fully driverless commercial rollout by 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming:<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/77d838b5-61d3-4873-8553-8ff5c5263d96\/this-morning:-uae-slapped-with-a-10%2525-tariff-as-trump-triggers-global-trade-war\" style=\"\" rel=\"noopener\">In April<\/a> the RTA signed agreements with Uber and WeRide to test autonomous taxis, whilst earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f23781fc-a4fd-47fc-b355-98c0e6bf7543\/this-morning:-uae-eyes-usd-10-bn-investments-in-indonesian-renewables-%2B-ad-ports-will-not-be-operating-turkey%25e2%2580%2599s-alsancak-port\" style=\"\" rel=\"noopener\">in February<\/a>, it announced its plans to roll out its first autonomous taxi service in Dubai by 1Q 2026, adding it was considering partnerships with multiple car manufacturers to optimize safety and profitability. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/70b6beba-645f-4eed-85e7-55b5cb586c5f\/uber-and%253cmark%253e-weride%253c%2Fmark%253e-are-bringing-robotaxis-to-the-uae\" style=\"\" rel=\"noopener\">Abu Dhabi<\/a> is set to see WeRide\u2019s vehicles become available through the Uber app soon.<\/p>\n<p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The International Finance Corporation <\/strong><strong>is offering a USD 72 mn debt facility to Amea <\/strong><strong>Power <\/strong>to finance the integration of a battery energy storage system (BESS) into its newly launched 500 MW solar plant in Kom Ombo, according to a statement from the international lender seen by EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The renewables firm has big plans in Egypt: <\/strong>The company plans to develop two battery energy storage systems (BESS), including a 500 MWh storage station in Benban and a 1 GWh facility in Zafarana, along with the necessary transformer stations and grid connections. It is also currently working on a USD 600 mn, 5 GW wind power project in the Gulf of Suez. <\/p>\n<p class=\"tag-border-left\">AI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Microsoft<\/strong><strong>, e&amp; enterprise double down on AI push: <\/strong>Emirates Telecommunications Group\u2019s (e&amp;) <a target=\"_blank\" href=\"https:\/\/www.eandenterprise.com\/en\/index.html\" style=\"\" rel=\"noopener\">e&amp; enterprise<\/a> is partnering with Microsoft to deploy AI and data-led solutions across the MENAT region, according to a <a target=\"_blank\" href=\"https:\/\/www.eandenterprise.com\/en\/news-and-insights\/press-release\/eandenterprise-and-microsoft-join.html\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership will focus on sector-specific tools for the public sector, as well as for the banking, financial services, ins., telco, and retail industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who is doing what: <\/strong>Microsoft will provide a full stack of AI and data tools via its <a target=\"_blank\" href=\"https:\/\/azure.microsoft.com\/en-us\/\" style=\"\" rel=\"noopener\">Azure<\/a> platform to support organizations and business in operations like fraud detection, predictive analytics, and data warehousing. e&amp; enterprise will provide its cloud migration, managed services, and hybrid cloud offering. <\/p>\n<p class=\"tag-border-left\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IHC <\/strong><strong>rolls out branding for new reins. platform RIQ: <\/strong>Abu Dhabi\u2019s International Holding Company (IHC) has named its new reins. firm Reins. Intelligence Quotient (RIQ), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/737.pdf\" style=\"\" rel=\"noopener\">press release (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/6\/737.pdf\" style=\"\" rel=\"noopener\">pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>First unveiled <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fe61e9df-200f-4d3e-aaeb-abd1084cd82f\/%253cmark%253eihc%253c%2Fmark%253e,-blackrock,-lunate-partner-on-usd-1-bn-reins.-platform\" style=\"\" rel=\"noopener\">last month<\/a> in partnership with BlackRock and alternative asset manager Lunate, RIQ has secured over USD 1 bn in initial equity commitments, with plans to manage more than USD 10 bn in liabilities. Adnoc Group CEO Sultan Ahmed Al Jaber was tapped as chair, while former Aviva and AIA Group CEO Mark Wilson will be its CEO. The firm will use AI-solutions to offer tailored underwriting solutions in property and casualty, life, and specialty ins., and is in the final stages of securing regulatory clearance from ADGM\u2019s Financial Services Regulatory Authority. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: WeRide and Uber to test self-driving vehicles in Dubai this 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Properties Group launches AED 350 mn Dubai project + Emaar Misr plans another Egypt project","related_issue":[104606],"teaser":"Plus: WeRide and Uber to test self-driving vehicles in Dubai this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.4eab9cfd-0e86-4ba8-afdf-a7ab488a0edf.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Emirates Properties Group launches AED 350 mn Dubai project + Emaar Misr plans another Egypt project - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/06\/16\/emirates-properties-group-launches-aed-350-mn-dubai-project-emaar-misr-plans-another-egypt-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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