Tag: Press Release

Emaar Misr announces the continuation of around-the-clock work to complete and deliver the second phase of Beyout El Kheir project by year’s end

The completion of rehabilitating and developing 1,000 homes and providing 500 projects for underprivileged families during the project’s first phase

• Beyout El Kheir is the largest private sector-funded project in Egypt
• Emaar Misr is committed to building a housing unit for a family in need for every unit it builds in its projects in Egypt

 

Cairo 4 August 2020 – Emaar Misr has announced the continuation of around-the-clock work and without interruption in the second phase of Beyout El Kheir project, which is set to be completed by the end of this year, and is the phase which Emaar started last year to improve the living conditions of hundreds of deserving families in a number of Egypt’s most needy villages and governorates.

The second phase of the project is part of Beyout El Kheir initiative, which aims to build thousands of housing units in several Egyptian villages and governorates at a value of EGP 140 million, allocated by Emaar Misr for the first and second phases of the project and scheduled to take place over three years within the framework of activating Emaar Misr’s social responsibility role by providing suitable housing units and job opportunities as well as creating income-generating projects to improve the living conditions of the most deserving families in need.

Emaar Misr had previously announced the commencement of work in the second phase of Beyout El Kheir project, following the success of the project’s first phase, launched by Emaar Misr in 2018 under the auspices of the Ministry of Social Solidarity and in cooperation with Misr El-Kheir Foundation. The project is considered one of the largest development projects funded by the private sector in Egypt and constitutes Emaar Misr building a housing unit for a deserving family in need for every unit that Emaar develops in its projects in Egypt, in addition to providing micro-credit projects with the goal of achieving sustainable development.

The launch of the second phase of Beyout El Kheir project comes in response to the Egyptian state’s directions to provide a decent life to the different segments of society, particularly low-

income families and individuals, preserving human dignity and achieving social justice. Work on the project’s second phase is carried out non-stop by demolishing and reconstructing some of the houses in Al Gharirah village in Luxor governorate, which has a high percentage of need of up to 50.7 percent and the number of deserving underprivileged individuals is 4,750. It also contains a large number of concrete houses built on an inaccurate construction foundation and houses made of mud with roofs made with hay and newspapers, which renders it uninhabitable. Emaar Misr has made sure to use environmentally safe materials in the reconstruction of houses.

The second phase also involves assisting large numbers of families through income-generating projects, especially handicraft and trade projects such as supporting carpentry workshops, grocery stores, and stationeries to create a permanent source of income that provides them with a decent life.

Last March, Emaar Misr cooperate with Misr El-Kheir Foundation, in coordination with the Ministry of Social Solidarity when Egypt was hit with floods to help citizens whose homes were damaged in different parts of Sharqiya governorate’s El Husseiniya Center, including the villages of Bahr Al Baqar, Kafr Al Azzazi, and Al Qatawyah and meeting the needs of each house from restoration to rehabilitation and reconstruction.

A study has also been completed on the needs of a number of houses that require roofing and restoration, in addition to a number of other houses requiring a complete reconstruction. Another study is being finalized on the needs of other homes, a play area is being constructed, lighting is being installed on some roads, and more income-generating jobs are being created.

Emaar Misr had finalized the first phase of Beyout El Kheir project last year in the governorates of Aswan, Qena, Matrouh and Behaira as 1,000 houses were reconstructed and restored and the living environment was rehabilitated in the four governorates through building roofs, reparation of the walls, development of the households’ drainage systems and connecting potable water to homes in addition to creating 500 income-generating products for the most in-need families in the field of poultry farming. The families were selected based on a comprehensive nationwide study that puts into consideration factors such as the number of family members, the condition of the heads of the family, geographical location, the size of the residence along with other elements to ensure that the support reaches those who truly need it.

 

About Misr El Kheir:

Misr El Kheir Foundation (MEK) is a non-profit development institution established in 2007 with the objective of developing the Egyptian individual in a comprehensive manner. Six key areas have been selected for human development namely: Health, Education, Scientific Research, Social Solidarity, Aspects of Life and Integrated development. Our vision is: to become a pioneering sustainable development organization to be heeded internationally; our mission is to contribute to the development of individuals and to serve them in the hope of eliminating unemployment, illiteracy, poverty, and disease.

With the presence of the minister of tourism and antiquities, minister of housing, utilities and urban communities and governor of Matrouh Emaar Misr and Emaar Hospitality group inaugurate the first Address Hotels + Resorts Property in Egypt, Address Marassi Golf Resort the resort is located in Marassi Sidi Abdelrahman, an investment of EGP 950 million

Alabbar: The Egyptian state is embarking upon massive projects and will transform the North Coast into a global tourism center

Inaugurating Address Marassi Golf Resort; a milestone in the world of hospitality and hotels on the North Coast of Egypt

24^th of July 2020, Egypt  – The Minister of Tourism and Antiquities in Egypt, Dr. Khaled El-Enany and Minister of Housing, Utilities and Urban Communities, Dr. Assem El Gazzar have inaugurated Address Marassi Golf Resort in Sidi Abdelrahman bay on the North Coast in the attendance of Matrouh Governor Lt. Gen. Khaled Shoaib, Mohamed Alabbar, representing Emaar Properties PJSC, Jamal Bin Theniyah, representing Emaar Misr, in the company of key tourism and media figures.

Address Marassi Golf Resort, located in Sidi Abdelrahman bay, which boasts an investment of EGP 950 million, is the second of nine hotels that Emaar Hospitality Group will open in the area.  The development of the resort comes in line with the Egyptian government’s directions to develop the North Coast area, which in the past years has witnessed a notable increase in investments and urban development and depends on the development of distinguished hotels to accommodate the occupancy rates year-round.

During the inauguration, representing Emaar Properties PJSC, Mohamed Alabbar, said that the North Coast area, particularly the Sidi Abdelrahman bay area, has a distinct nature incomparable to anywhere else in the world. It is recognised as a cosmopolitan region where Mediterranean cultures blend together in harmony.  The Egyptian state is embarking upon massive urban projects in the area which will soon turn the region into a global urban touristic centre, thereby it is of crucial importance to provide accommodations not only on par with the highest international standards, but accommodations that bear the hallmark of the distinctive Arab hospitality.

Alabbar stressed that Emaar Misr is keen on promoting diverse types of tourism that will contribute to enriching the Egyptian national income. Yacht tourism will play a key role given that Marassi houses the largest yacht marina south of the Mediterranean with a 236-yacht capacity in addition to providing maintenance services. In addition to boasting the first international marina in the North Coast area with the capacity to host luxury yachts that reach up to 150 metres in length, the various golf courses in Marassi will also contribute to the touristic development of the area in a unique way.

Alabbar added that Address Hotels + Resorts is Emaar Hospitality Group’s first hospitality brand which was launched in 2008.  When Emaar decided to expand and inaugurate properties outside the United Arab Emirates, its first choice was Egypt as it is a touristic destination with a strong projected growth. “Despite challenges that are being faced across the globe at the moment, at Emaar we continue to keep our focus on the future”, said Alabbar.

Alabbar noted that Emaar Properties’ investments in Egypt amount to EGP 200 billion, including a EGP 55 billion investment in Marassi and an EGP 11.5 billion investment in Emaar Misr’s newly-launched project, Cairo Gate. The company’s investments in its Sheikh Zayed land may amount up to EGP 37.8 billion in the coming period.

Address Hotels + Resorts currently counts with a portfolio of 8 operating hotels, with Address Marassi Golf Resort joining the portfolio as its 9^th hotel, a first outside of the United Arab Emirates, and also a first of many more global expansions planned for the brand in destinations including Saudi Arabia, Turkey and Bahrain. Through its tagline ‘Where Life Happens’, the brand has redefined the hospitality industry by offering intuitive experiences for its guests.

Address Marassi Golf Resort, designed as a Tuscan style low-rise resort, counts with 48 rooms and suites overlooking Marassi’s 18-hole signature golf course, which was designed by renowned designer Peter Harradine, in addition to 82 serviced apartments. The resort also features five restaurants, two outdoor swimming pools, one indoor pool, and the world-class The Spa at Address, in addition to a private 250 sqm ballroom.

Verdi and Blanca hubs have also been inaugurated in Marassi, as part of the nine hotels planned in Sidi Abdelrahman bay. The two contemporary-designed hotels overlook the lagoon.

Following a comprehensive development process that took nearly nine months to complete at a cost of EGP 1.5 billion, Emaar Misr first opened Al Alamein Hotel in 2018 in Sidi Abdelrahman bay, a building structure that dates back to the sixties and which has witnessed many historic gatherings between Arab leaders.

Emaar Misr, El Sewedy Education sign MOU to establish the knowledge hub universities hosting Coventry University and more renowned international universities in new zayed project

Alabbar: Education is the future and it is vital to establish universities that provide youth with the skills needed in the job market

El Sewedy: We are keen on providing distinguished educational programs brought by the world’s top ranked universities to more students

Cairo, 24 July 2020 – Emaar Misr and El Sewedy Education have signed a Memorandum of Understanding (MoU) to establish The Knowledge Hub Universities  hosting Coventry University and more renowned international universities in New Zayed project over an area of 50 acres, as part of a 500-acre land recently allocated to Emaar Misr to build an integrated residential project.

The partnership between Emaar Misr and El Sewedy Education comes in the framework of Emaar Misr’s strategy to build integrated communities and provide distinctive services to its clients, especially in the field of education as El Sewedy Education is considered one of the most prominent institutions with considerable experience in partnering with renowned international universities in the world. The Knowledge Hub Universities host global universities’ branches in Egypt, with the first partnership being with the United Kingdom’s Coventry University last year to offer selected undergraduate courses offering the same exact degree, quality education, curricula, and teaching methodologies applied at the mother campus abroad.

During the MoU signing ceremony, Mohamed Alabbar said that one of the basic foundations on which Emaar’s strategy is built is to always look ahead at the future and to work towards it starting now. In Emaar’s communities, we are keen on providing distinguished educational services since education is the future and, as we were sure to partner with some of the biggest international schools at the start of our presence in Egypt, it has also become vital to establish universities that provide world-class educational services and have all the capabilities that equip students with the latest academic skills, qualifying them to compete in the different job markets and achieve academic and professional excellence. The impact of this strategy will be felt in having minds capable of developing the Egyptian economy across different fields.

Eng.  Ahmed  El  Sewedy,  Chairman  of  El-Sewedy  Education,  commented,  “We  are proud to announce the expansion of The Knowledge Hub Universities to be part of the  esteemed project developed by  Emaar Misr,  which reflects the great success TKH achieved. We are keen on spreading this successful experience  to be able to provide the distinguished educational programs brought by the world’s top ranked universities to more students. Therefore, we look into more successful partnerships in order to achieve the goal of developing the educational system.”

Ihab Salama, the CEO of El Sewedy Education, said, “In preparation for a continuous success of offering an educational experience that builds leaders of the future, we continue to expand our community and taking larger steps towards expansions and growth. With the success of “The Knowledge Hub Universities”, paving the way for further growth and expansions to cover and serve new areas and projects such as New Zayed Project. We hope that this expansion enables us to provide world-class expertise to enrich the educational experience for the Egyptian students.”

Construction work on The Knowledge Hub Universities’ new campus is set to begin in early 2021.

It is worthy to note that President Abdel Fattah El-Sisi issued presidential decree no. 423 for the year 2019 on establishing a college-level educational institution named “The Knowledge Hub Universities” and affiliated to El Sewedy Education with its headquarters located in the New Administrative Capital.

In support of the government’s efforts to fight coronavirus Emaar Misr donates EGP 10 million towards Tahya Misr fund and the medical sector

Egypt has a special place in our hearts and this is the right time for solidarity and standing together to overcome this ordeal: Alabbar

12th of April 2020, Cairo, Egypt – Emaar Misr for Development, one of the largest real estate companies in Egypt and the developer of iconic projects such as Uptown Cairo, Marassi, Mivida and Cairo Gate announced that its board of directors approved the donation of EGP 10 million for Tahya Misr Fund and the medical sector, as an expression of solidarity with the Egyptian government in its fight against novel coronavirus pandemic.

The donation comes as a response to an initiative launched recently by Tahya Misr Fund, titled ‘We Participate to Overcome the Crisis’, which targets supporting irregular labor and the vulnerable families that were negatively impacted by the economic consequences caused by coronavirus, through offering them food staples and alleviating the pressures of costs of living.

Emaar Misr is also assisting the public medical sector, , through the purchase of artificial respirators and medical supplies needed for the treatment of those infected with coronavirus and for the protection of medical staff.

Mohamed Alabbar, Chairman of Emaar Properties, said: “At such difficult times, we find ourselves in a serious trial that we have not been through before. However, it should be seen as a stress test for our ability to continue working and stand together firmly, as well as an impetus for every individual to offer as much as possible to protect the lives of people and maintain their health. It is high time that we stand together and join hands to survive this ordeal with the least possible losses.”

Alabbar added: “Egypt has a special place in our hearts, and we are following with strong interest the measures taken by the Egyptian government to stem the spread of coronavirus. As Emaar Properties always seeks to become a model example in situations that require solidarity, it was vital that we partake in the various initiatives that affirm our commitment towards the communities in which we operate and towards our partners with the goal of overcoming this crisis.”

Emaar Misr earlier announced the continuation of phase two in its ‘Beyout El Kheir’ project, at a value of EGP 40 million, under the patronage of Ministry of Social Solidarity and in cooperation with Misr El-Kheir Foundation. It is a major development project that is being funded by the private sector inside Egypt, and through which Emaar Misr builds housing units for the deprived families, at a number equal to the units in the company’s projects in Egypt.

In the presence of the Prime Minister and Minister of Housing, Utilities, and Urban Communities

Emaar Misr signs Cairo Gate land deal and receives letter of allocation for new land in Sheikh Zayed

• Total investments in Cairo Gate project amount to EGP 11.5 billion… and EGP 37.8 billion investments in Sheikh Zayed’s land
• Alabbar: Our discussions with the Egyptian government have always yielded positive results and we believe in the strength of the Egyptian economy

Cairo, 28^th of November 2019 – Emaar Misr has announced the signing of the final agreement with the New Urban Communities Authority (NUCA) for Cairo Gate’s fully-integrated community, located in Cairo-Alexandria Desert Road and spanning an area of 120.9 feddans, with total investments of EGP 11.5 billion, in addition to receiving the allocation letter for 500 feddans in Sheikh Zayed to develop a fully-integrated housing project with investments reaching EGP 37.8 billion.

The deal was finalized between Emaar Misr and NUCA at the Cabinet’s headquarters in the presence of Prime Minister Mostafa Madbouli and Engineer Assem El-Gazzar, Minister of Housing, Utilities, and Urban Communities, and NUCA’s Vice President for Financial Affairs along with Mr. Mohamed Alabbar, Chairman of Emaar Properties, and Mr. Jamal bin Thaniah, Director of Emaar Misr.

Emaar Misr has paid EGP 1 billion as the first installment for the lands of both Cairo Gate’s project and Sheikh Zayed’s residential project with expectations of investments in Cairo Gate to reach EGP 11.5 billion and EGP 37.8 billion in Sheikh Zayed’s land as Emaar Misr, after being allocated the 500-feddan land in Sheikh Zayed’s extension, aims to increase its real estate portfolio and expand in west Cairo by building fully-integrated communities.

Following the signing of the deal, Mr. Mohamed Alabbar, Chairman of Emaar Properties, said: “Our discussions with the Egyptian government have always yielded positive results and we, at Emaar, believe in the strength of the Egyptian economy and its increasing growth, especially in the recent period with the Egyptian state’s continuous motivation and incentives to investors, particularly that the Egyptian market is complex and permits business diversity in different sectors.”

Alabbar added: “With Emaar Misr’s signing today of the final agreement for Cairo Gate, which spans an area of 120.9 feddans in Sheikh Zayed, we will start launching and executing the project in the coming period. We are also looking into more investment opportunities in Egyptian cities and increasing Emaar’s land portfolio in Egypt, as the real estate and tourism sectors in the country are two of the most important and promising sectors.”

Emaar Misr has so far developed 6 million square meters of land in Egypt and owns 15.4 million square meters of land across New Cairo, central Cairo, and the North Coast, with a total investment value of over EGP 35 billion.

Alabbar: The Egyptian government has placed the investment climate on the right path, by the testimony of international institutions… and the company is considering various investment opportunities in Egypt

Emaar Misr announces reaching an agreement with the Ministry of Housing on Cairo Gate’s project in Sheikh Zayed

Cairo, 3 October 2019 – Emaar Misr has expressed its appreciation for the Egyptian government’s efforts to reach a final agreement on Uptown Cairo project, putting an end to the dispute between Emaar Misr and El Nasr Housing and Development, a public sector company and a subsidiary of the National company For Construction and Development.

The announcement was made during a press conference held by Emaar Misr, today, in the presence of Mohamed Alabbar, Chairman of Emaar Properties, and Mr. Jamal bin Thaniah, Director of Emaar Misr, after reaching a final settlement between Emaar Misr and El Nasr Housing and Development, under the auspices of Dr. Hisham Tawfiq, Minister of Public Business Sector, and in the attendance of Engineer Assem El-Gazzar, Minister of Housing, Utilities, and Urban Communities.

For his part, Mohamed Alabbar, Chairman of Emaar Properties, expressed his happiness for signing the settlement and expressed his gratitude to the Egyptian government which has managed during the last period to place the investment climate on the right path, by the testimony of international institutions, adding that Emaar is considering various investment opportunities in a number of Egyptian cities such as Cairo, Ain Sokhna, and the North Coast, among others. He added that all cities in Egypt have rewarding investments and that the investments’ priorities are determined based on the company’s vision and the distinctiveness of the proposed slot of land.

Alabbar stated that Emaar Misr has finalized its agreement with the Ministry of Housing on the 121.5-feddan Cairo Gate administrative and residential project in Sheikh Zayed, with the project’s launching and execution slated to begin within the coming period. The company is also in the final stages of negotiations with the Egyptian government to buy a new land slot in Sheikh Zayed City.

During the press conference, Alabbar said that in spite of the success that Emaar gained in its projects in Egypt, the Egyptian market still carries substantial investment opportunities for the company, especially that the real estate market, along with the tourism sector and others, are witnessing yearly growth and genuine opportunities to attract domestic and foreign capital. He elaborated that Egypt is a large market with a population estimated at over 100 million people, thereby the real estate sector is observing an increased demand for housing units. This growth has led to the creation of more job opportunities, and this is evident in the size of labor that Emaar Misr employs, which amounts to over 15,000 direct and indirect jobs.

Emaar Misr has so far developed 6 million square meters of land in Egypt and owns 15.4 million square meters of land across New Cairo, central Cairo, and the North Coast, with a total investment value of over EGP 35 billion.

under the auspices of the Ministry of Social Solidarity

The project aims to develop a housing unit for an underprivileged family for each unit it builds in its developments in Egypt

Cairo, Egypt – September 22, 2019 – Emaar Misr has announced the start of operations on the second phase of Beyout Al Kheir project following the success of the first phase, launched last year under the auspices of the Ministry of Social Solidarity and in cooperation with Misr El-Kheir Foundation, which has since become one of the biggest development projects funded by the private sector in Egypt.

The second phase targets new underprivileged Egyptian villages and governorates and aims to improve the living conditions of thousands of families through upgrading houses and developing the housing conditions in these areas, in addition to creating sustainable income-generating projects in the governorates targeted in the second phase of the project.

The launching of the second phase of Beyout Al Kheir Project comes in response to the Egyptian state’s directives to improve the lives of different low-income families.

Emaar Misr had launched last year, in cooperation with Misr El-Kheir Foundation, Beyout Al Kheir Project in Aswan, Qena, Matrouh, and Beheira governorates where it renovated and restored 1,000 houses. Emaar Misr also upgraded the housing conditions in the four governorates by building roofs, renovating walls, upgrading home drainage systems, and connecting the houses with pure water. The company also created 500 income-generating projects for the most underprivileged families in the field of poultry farming. The families were chosen based on a comprehensive study that put into consideration factors such as the number of family members, the condition of the heads of the family, geographical location, the size of the residence along with other factors to ensure that the support reaches those who truly need it.

About Misr El Kheir:

Misr El Kheir Foundation (MEK) is a non-profit development institution established in 2007 with the objective of developing the Egyptian individual in a comprehensive manner. Six key areas have been selected for human development namely: Health, Education, Scientific Research, Social Solidarity, Aspects of Life and Integrated development. Our vision is: to become a pioneering sustainable development organization to be heeded internationally; our mission is to contribute to the development of individuals and to serve them in the hope of eliminating unemployment, illiteracy, poverty, and disease.

Cairo, Egypt – 22 August 2019: Real estate developer Emaar Misr has awarded Arabtec Holding PJSC (Arabtec or Group), a leading contractor for social and economic infrastructure, that is wholly-owned subsidiary Arabtec Construction an AED 405 million (EGP 1.844 billion) contract by Emaar Misr for the construction of new communities comprising 449 residential units in its Uptown Cairo Development in Egypt. The contract works will commence immediately for a duration of 27 months and will also include the construction of two new villages in Uptown Cairo.

Uptown Cairo is an integrated development located in the heart of Egypt’s capital with easy access to east and west Cairo through a well-developed road network. The residential units in Uptown Cairo are finished to a luxurious standard and the development offers contemporary living with spacious terraces and uninterrupted views overlooking the city lights.

Arabtec Construction Chief Executive Officer, Boyd Merrett comments: ‘We are delighted to be awarded another package in the Uptown Cairo development by Emaar in Egypt, which is presenting a strong pipeline of opportunities underpinned by population growth and a stable economy. We look forward to building on our solid track record with Emaar Misr and to delivering another successful village in the Uptown Cairo Master Development’.

Emaar Misr is always keen on choosing the best companies with a long history of excellence in construction,’ said Mohamed Al Abbar, Chairman of Emaar Properties. Emaar Misr always strives to offer high quality residential communities to its customers, starting from the infrastructure of their projects. ‘We are all well-aware of the importance of investment in the Egyptian real estate sector because of its strong opportunities supported by population growth and economic stability in the country, as well as investment incentives provided by the political leadership,’ Al Abbar added.

About Arabtec Holding:

Arabtec is a leading contractor for social and economic infrastructure. The Group improves the quality of life of people living in the communities that it creates. Arabtec’s impressive list of completed projects includes iconic buildings such as the world’s tallest building, the Burj Khalifa in Dubai, Abu Dhabi landmark, the Emirates Palace Hotel and Louvre Abu Dhabi Museum; as well as other technically challenging work on airports and related infrastructure.  Arabtec was the first private construction firm to list on the Dubai Financial Market in 2005. Today, the Group consists of numerous subsidiaries with specializations spanning all segments of the construction cycle, with a vision of building the future.

Emaar Misr invests in community development with a view of achieving social justice: Chairman Abbar

Cairo, April 14, 2019 – Real estate developer Emaar Misr for Development is donating EGP 878 million (approximately $50 million) to develop slum areas and informal settlements in Egypt.

The donation is part of Emaar Misr’s efforts to help improve living conditions of hundreds of underprivileged households across Egypt and offer well serviced housing for hard-up slum residents.

“Emaar has been able to win the confidence of the Egyptian people through a range of distinguished projects it has carried out in Egypt. As a real estate developer, we are not only concerned with creating investment projects but also with offering equal living opportunities for everyone. Our donation to develop slums stems from our longstanding belief that such projects are instrumental in achieving human development and contributing to the country’s economic growth and that of the region. At Emaar Misr, we believe that taking part in community development initiatives has a far-reaching impact on achieving social justice,” said Mohamed Al Abbar, Chairman of Emaar Properties.

“I urge all private companies and businessmen to be actively involved in community initiatives to fulfil their duty towards the society where they work in and to support government efforts in this regard,” he added.

Last year, Emaar Misr launched the Beyout Al Kheir housing project in cooperation with Egypt’s charity organization Misr El Kheir to improve poor living conditions for thousands of low-income families across Egypt. For every unit it builds in its developments, Emaar Misr will offer a residential unit for a disadvantaged family.

One of the biggest development projects in Egypt, the $15 million scheme to be executed over three years also aims to create job opportunities and income-generating projects to enhance living standards of low-income families across Egyptian villages and cities.

Emaar Misr is one of the largest real estate companies in Egypt and the developer of a number of iconic projects such as Uptown Cairo in the heart of Cairo, Mivida in New Cairo and Marassi in the North Coast.

Under the auspices of the Ministry of Social Solidarity

and in the presence of Ghada Wali, Gomaa, and Alabbar

Emaar Misr launches Beyout Al Kheir project in cooperation with Misr El-Kheir Foundation to be one of the biggest development projects to upgrade and develop thousands of houses in Egypt

Mohamed Alabbar: We will develop a housing unit for an underprivileged family for each unit Emaar builds in its projects in Egypt

Cairo, 10 September 2018 – Emaar Misr has launched in cooperation with Misr El-Kheir Foundation the first phase of Beyout Al Kheir Project which aims to improve the living conditions of thousands of underprivileged families in various Egyptian villages and governorates. Beyout Al Kheir is considered one of the biggest development projects funded by the private sector in Egypt.

The protocol was signed in the presence of Minister of Social Solidarity Ghada Wali and Mr. Mohamed Alabbar, Chairman of Emaar Properties, and Dr. Ali Gomaa, Chairman of the Board of Trustees of Misr El-Kheir Foundation.

Emaar Misr’s launch of Beyout Al Kheir Project is in line with the Egyptian government’s directives to support low-income individuals in a way that guarantees them suitable housing and decent life, preserves their human dignity, and achieves social justice.

This project also supports the developmental role that Emaar Misr believes in and its keenness on applying the principle of sustainable development and improving the living conditions of the most underprivileged families.

Mr. Mohamed Alabbar, Chairman of Emaar Properties, said: “Our success in Egypt is based on the confidence of the Egyptian society in our projects thereby it is our social responsibility and duty to return part of this favor and we are happy to cooperate with Misr El-Kheir Foundation, a leading development organization in Egypt.”

Alabbar added: “We will develop a housing unit for an underprivileged family for each unit Emaar builds in its projects in Egypt in addition to supporting micro-loan projects for sustainable development.”

Beyout Al Kheir aims to upgrade thousands of houses in Egypt and develop the housing conditions in various Egyptian governorates. It includes building roofs, restoring walls, developing household drainage networks and connecting potable water to houses, in addition to creating income-generating projects in the field of poultry farming in the targeted governorates.

The project is based on a comprehensive study of underprivileged families across Egypt that puts into consideration factors such as the number of family members, the condition of the head of the family, geographical location, the size of the residence along with other factors to ensure that the support reaches those who truly need it.