Arab Finance: Emaar Misr for Development (EMFD) reported a 3.8% year-on-year (YoY) uptick in its consolidated net profits after tax in 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on March 3^rd.

The real estate developer recorded EGP 6.812 billion in net profit after tax in 2023, compared to EGP 6.563 billion in 2022.

Meanwhile, revenues went up to EGP 15.096 billion from EGP 14.736 billion.

Respecting the firm’s standalone results, net profits after tax rose to EGP 6.782 billion from EGP 6.563 billion in 2022.

Standalone revenues recorded EGP 15.096 billion last year, versus EGP 14.736 billion in the previous year.

Established in 2007, Emaar Misr is engaged in real estate development operations. It undertakes commercial and residential development projects such as residential villages and communities, business centers, malls, and shopping complexes, villas, townhouses, and apartments.

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