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Egypt’s Emaar Misr, Tahya Misr Fund tie up to develop Sidi Abdel Rahman village

Egypt’s Emaar Misr, Tahya Misr Fund tie up to develop Sidi Abdel Rahman village

Emaar Misr has committed to contribute roughly $1.26m to support the first phase of infrastructure and service improvements in Sidi Abdul Rahman village

Egypt-based developer Emaar Misr and the Tahya Misr Fund have partnered to implement a sustainable scheme for Sidi Abdul Rahman village.

The cooperation protocol will help introduce facilities to improve the quality of life of the village’s residents.

The protocol between Emaar Misr and the Tahya Misr Fund forms part of the former’s corporate social responsibility (CSR) provisions and its interest in improving the lives of communities where it operates.

Emaar Misr has committed to contribute EGP20m ($1.26m) to support the first phase of infrastructure and service improvements in Sidi Abdul Rahman village, inhabited by 4,479 people.

“The Covid-19 crisis that the world is going through right now has shown that health and education are among the most important areas that must be invested in because it is the future and what guarantees people’s lives and security, and thus the continuation of other economic projects,” said Emaar’s Mohamed Alabbar.

The partnership between the two entities will implement a number of development projects, in cooperation with the Egyptian government, he added.

Tamer Abdel Fattah, executive director of Tahya Misr Fund said that strengthening the partnership with the private sector was important in terms of implementing the fund’s projects in various fields.

“The cooperation protocol with Emaar Misr is a model for this partnership, especially as it paves the way for expanding the base of beneficiaries of the capabilities available to the Fund and Emaar Misr, whether in the field of urban development, healthcare, social support, economic empowerment, or education and training support,” added Fattah.

Emaar Misr contributed EGP 878m for national projects undertaken by the Egyptian government. In April, Emaar Misr donated EGP10m to Tahya Misr Fund and the medical sector to support the efforts made by the Egyptian state to mitigate the impact of the pandemic.

Since 2018, Emaar Misr has launched the Beyout Al Kheir project, whose first phase, entailing the restoration and rehabilitation of 1,000 housing units, stands complete. The project’s second phase has started to restore and rehabilitate more units and help in income-generating projects across a new number of governorates.

Emaar Misr and Emaar Hospitality Group inaugurated the first Address Hotels + Resorts property located in the Sidi Abdelrahman bay in July this year.

Read: Developer Emaar inaugurates Address Marassi Golf Resort in Egypt

In related company news, Emaar scrapped off all job titles across the company earlier this year, as part of measures aimed at focusing on ‘talent not titles’.

Also read: Dubai’s Emaar removes all job titles, with Alabbar also dropping his title of chairman

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