Emaar Properties, Dubai’s largest publicly listed developer by market capitalization, plans to increase its investments in Egypt to $25 billion over the next three years, up from the current $18 billion, according to the company’s founder, Mohamed Alabbar.

This expansion reflects growing confidence in Egypt’s real estate market, as reported by Al Arabiya. Alabbar revealed that through Emaar Misr Development, the company has already invested over $3 billion in partnership with Midar, an Egyptian master developer, for a 500-acre project in New Cairo.

Highlighting Egypt’s vast tourism potential, Alabbar emphasized that Cairo should aim to attract 70 million tourists annually, significantly up from the current 15 million, leveraging its rich historical heritage and extensive coastline.

Emaar’s existing presence in Egypt includes major developments such as Marassi and Soul on the Mediterranean coast and Cairo Gate outside the capital. However, the company recently announced plans to divest part or all of its Indian subsidiary as it reassesses its international strategy.

Last week, Emaar reported a 40% year-on-year surge in international real estate sales, reaching AED 4.1 billion ($1.1 billion) in 2024, with revenues hitting AED 2.7 billion, driven primarily by its operations in Egypt and India.

Looking ahead, Alabbar expressed strong interest in new investment opportunities along Egypt’s Red Sea coast.

Emaar’s overall sales hit a record AED 70 billion ($19 billion) in 2024, while revenues climbed to AED 36 billion, reinforcing its position as a leading global real estate developer.