2024/04/22

EMAAR donates EGP 90 mln to develop Sidi Abdel Rahman

Emaar Misr for Development has allocated EGP 90 million as donations to the Egyptian government last year for the development of Sidi Abdel Rahman resort in the North Coast.

According to a statement released by Emaar, the donations were directed to the "Tahya Masr" Fund.

Emaar Egypt's donations extend beyond Sidi Abdel Rahman. The company's financial statements for 2023 reveal that its total donations throughout the year reached EGP 107.214 million. Of this amount, a total of EGP 7 million were allocated to Ramadan food bags, EGP 3 million were contributed to support homeless children, and the remaining funds were directed towards various social activities.

This is not the first time Emaar Egypt demonstrates its commitment to the development of the North Coast region. In 2021, the company's board of directors approved a donation of EGP 90 million to the "Tahya Masr" Fund for various sectors, including housing, education, and healthcare.

At that time, an agreement was reached with the fund to allocate EGP 60 million for the renovation and construction of schools, homes, and infrastructure in Sidi Abdel Rahman area of El Alamein City.

It is worth noting that Emaar Egypt for Development's consolidated financial statements for the past year showed a 4% increase in profits on an annual basis.