Arab Finance: Emaar Misr for Development has decided to move forward with acquiring the remaining shares in Sky Tower for Real Estate Development through a share swap, the firm said in a disclosure filed with the Egyptian Exchange (EGX).
This would raise Emaar Misr's ownership in the company to as much as 100%.
The decision follows Sky Tower shareholders’ request to proceed with the acquisition.
Emaar Misr’s board approved submitting the proposed acquisition study to its investment committee, paving the way for the company to begin the procedures required to implement the resolution previously approved by its extraordinary general meeting.
It is worth noting that Emaar Misr reported consolidated profits after tax attributable to the parent of EGP 5.555 billion in the first half (H1) of 2026, up 41.93% from EGP 3.914 billion in H1 2025.
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.
