Emaar Misr, the Egyptian arm of Mohamed Alabbar-led Dubai Financial Market-listed Emaar Properties, and the Tahya Misr will implement a sustainable development scheme for Sidi Abdul Rahman village in Matrouh Governorate.
For this both the companies signed a cooperation protocol that will also look at introducing facilities that will help increase the quality of life for the residents in the village.
The agreement was signed by Major Gen. Mohamed Amin Nasr, Advisor to the President of Egypt and secretary of the Tahya Misr Fund, and Mohamed Alabbar, Founder and chairman of Emaar, in the presence of Dr. Nevin Al-Qabaj, Minister of Social Solidarity, and Dr. Tariq Shawky, Minister of Education and Technical Education.
As part of the deal, Emaar Misr will contribute $1.3m to support Phase 1 of infrastructure and service improvements in Sidi Abdul Rahman village, which has a population of 4,479 people.
Commenting on the agreement, Alabbar said: “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.”
Following the partnership between Emaar Egypt and the Tahya Misr Fund, the organisations intend to implement a number of development projects, in cooperation with the Egyptian Government.
Meanwhile, Tamer Abdel Fattah, executive director of the Tahya Misr Fund, said: “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.”
Emaar Misr had contributed $55.8m for the national projects in the North African nation.
In April, the company donated $635,114.2 to Tahya Misr Fund and the medical sector to support Egypt during the COVID-19 crisis.
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