Emaar Misr and the Tahya Misr Fund have signed a cooperation protocol to implement a sustainable development scheme for Sidi Abdul Rahman village in Matrouh Governorate in the northwest of Egypt, and introduce facilities that will help raise the quality of life for the village’s residents.
The cooperation protocol was signed by Major General Mohamed Amin Nasr, Adviser to the President of Egypt and Secretary of the Tahya Misr Fund, and Mohamed Alabbar, Founder of Emaar, in the presence of Dr Nevin Al Qabaj, Egyptian Minister of Social Solidarity, and Dr Tariq Shawky, Egyptian Minister of Education and Technical Education.
The protocol to cooperate between the Emaar Misr and the Tahya Misr Fund comes as part of Emaar Misr’s corporate social responsibility (CSR) provisions and its interest in improving the lives of communities where it operates, and ensuring the facilities and services that provide a better life for the residents of the region.
Emaar Misr has committed to contribute EGP20 million ($1.27 million) to support the first phase of infrastructure and service improvements in Sidi Abdul Rahman village, which has a population of 4,479 people.
Mohamed Alabbar said that real estate projects are only of value when they help improve the community and raise the standard of living, as well as the facilities and services for residents, especially with regard to health and education.
"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," he stated.
Alabbar pointed out that Emaar Misr is particularly concerned with developing the communities in which it operates through a permanent partnership with the Egyptian government, and after the signing of this protocol, the partnership between Emaar Egypt and the Tahya Misr Fund will implement a number of development projects, in cooperation with different levels of Egyptian Government.
Tamer Abdel Fattah, Executive Director of the Tahya Misr Fund, said that the fund has come a long way in helping the country to provide a better life for the most vulnerable families, which is part of the framework of the presidential initiative to develop and improve the villages most in need.
Fattah affirmed 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," he added.
Emaar Misr had contributed EGY878 million for the national projects that the Egyptian government undertakes, and in April, it had donated EGY10 million to Tahya Misr Fund and the medical sector to support the efforts made by the Egyptian state to confront the repercussions of the Covid-19 crisis.
Since 2018, Emaar Misr launched Beyout Al Kheir project, whose first phase of restoration and rehabilitation of 1,000 housing units has ended, and its second phase has started to restore and rehabilitate more units and help in income-generating projects in a new number of governorates.
Beyout Al Kheir project is among the largest development projects funded by the private sector within Egypt, through which Emaar Egypt is building a housing unit for each eligible family in exchange for every unit that Emaar adopts in its projects in Egypt.-TradeArabia News Service