Emaar Misr Appoints BDO Keys for Sky Tower Acquisition in Egypt

Emaar Misr for Development, a prominent real estate developer established in 2007, has announced the appointment of BDO Keys Financial Consulting S.A.E. to evaluate the fair value of its shares and those of Sky Tower for Real Estate Development.

This appointment, unanimously approved by Emaar Misr's board, is a crucial step towards the company's planned acquisition of the remaining 75% stake in Sky Tower. The transaction aims to increase Emaar Misr's ownership of Sky Tower to up to 100%.

The extraordinary general assembly of Emaar Misr had previously authorized this acquisition via a share swap on July 18, 2024. BDO Keys, an independent financial adviser registered with the Financial Regulatory Authority (FRA), will also be responsible for determining the appropriate swap ratio between the two entities.

Emaar Misr develops commercial and residential projects, including residential communities, business centres, malls, villas, townhouses, and apartments. The company reported consolidated profits after tax attributable to the parent of EGP 5.555 billion in the first half of 2026, marking a significant 41.93% increase from EGP 3.914 billion in the first half of 2025.