Saudi Gazette CAIRO – Emaar Misr for Development has announced a net profit of EGP254.49 million in the first quarter of 2016, up more than 47 percent compared to the same period last year The property development company will soon be launching Celesta Hills, it's latest development of villas and townhouse around a golf course in the heart of Cairo The development is inspired by the Tuscan architecture of Italy, with villas and townhouses designed by world-renowned architects and a community center featuring swimming pools, tennis and basketball courts and kids' playgrounds Emaar Misr is a wholly owned subsidiary of the UAE-based Emaar Properties, a global property developer The company is one of the largest foreign direct investors in Egypt's real estate sector, with an investment portfolio of over 53 billion Egyptian pounds Emaar has identified Egypt as a key market for growth, and has announced four key projects: Uptown Cairo; Marassi, a 1,544-acre tourist and residential destination at Sidi Abdul Rahman; the Mivida residential community located at the fifth district; and the commercial residential development, Cairo Gate, on the Cairo-Alexandria desert road Emaar Misr announced earlier this year the signing of a contract with Esol Education to build a huge new international school at Uptown Cairo Esol Education is a world-renowned education provider that owns or partly owns and operates a total of nine international schools around the world, including the American International School in Egypt (AIS), and the Cairo English School (CES).
