Emaar finds future in Egypt with AED 20.7 billion investment

The Spanish colonial architecture that typifies Santa Barbara, California (USA) is the design inspiration behind Emaar Misr’s Mivida masterplan in Cairo’s ‘New Cairo City’ district.

Moving away from the vernacular architecture of Cairo and driven by the overpopulation of the city, the Emaar Misr has launched the sprawling, Mediterranean-flavoured mixed-use development Mivida.

“The construction of the Business Park and other infrastructure work is already underway, and the master-planning has been completed… sales of homes within the community will start shortly,” said Sameh Muhtadi, CEO of Emaar Misr.



A 3.8 million m² masterplan, Mivida encompasses an integrated neighbourhood of 5000 apartments, townhouses, villas, office and retail space, as well as healthcare facilities, schools and hospitality venues. Landscaped parks and community complexes are to create public meeting points that infuse continuity throughout the master plan.

Introducing smaller, more technologically advanced housing that suits smaller families, the project is introducing a suburban lifestyle into an urban setting, and the Santa Barbara-inspired design style is set to be translated throughout the built environment and outdoor space, providing a relaxed-yet-lavish, Mediterranean, community atmosphere.

Following the EGP 12 billion (AED 7.9 billion) Up Town Cairo, and the EGP 9.92 billion (AED 6.5 billion) Marassi currently under construction, Emaar Misr’s Mivida raises the firms investment portfolio by EGP 5.75 billion (AED 3.8 billion); cementing the developer’s confidence in the growth of the real estate industry in Egypt.