Emaar Misr will acquire Sky Tower’s remaining shares via a share swap. The move would raise Emaar Misr’s ownership in the company to as much as 100% and follows a request from Sky Tower shareholders to proceed with the acquisition. The transaction will be carried out through a share‑for‑share exchange, allowing existing Sky Tower shareholders to receive Emaar Misr shares instead of cash. By consolidating ownership, Emaar Misr positions itself to fully integrate Sky Tower’s assets and operations under its corporate umbrella. The board has approved submitting the acquisition study to its investment committee, allowing the company to start the procedures required to implement the resolution previously approved by its extraordinary general meeting. The board’s endorsement follows the earlier decision of the extraordinary general meeting, which had already cleared the path for the acquisition. Emaar Misr reported consolidated profits after tax of EGP 5.555 billion in the first half of 2026, a 41.93% increase from EGP 3.914 billion in the same period of 2025. This strong profit performance underscores the financial robustness that supports such strategic moves. Established in 2007, Emaar Misr is active in real estate development, delivering commercial and residential projects such as villages, business centres, malls, villas, townhouses and apartments. Over the years, the developer has built a portfolio that spans residential villages, business centres, shopping complexes, and a range of housing types, reflecting its diversified approach to meeting market demand. Its continued expansion into projects across Egypt demonstrates its commitment to shaping the built environment and contributing to the sector’s growth. The filing with the Egyptian Exchange (EGX) in Cairo formalised the proposal, providing transparency to investors and aligning with market regulations. Once completed, the acquisition will give Emaar Misr full control over Sky Tower, enabling streamlined decision‑making and the potential to realise synergies across its existing developments.
Frequently asked questions
What is a share swap? A share swap is a transaction where shareholders receive shares of the acquiring company instead of cash; Emaar Misr will use this method to acquire Sky Tower’s remaining shares.
How does the Emaar Misr share swap work? Emaar Misr will exchange its own shares for the outstanding Sky Tower shares, giving Sky Tower shareholders Emaar Misr shares and raising its ownership to up to 100%.
What impact does the acquisition have on Emaar Misr’s financial performance? The deal builds on Emaar Misr’s strong H1 2026 profit of EGP 5.555 billion, a 41.93% increase year‑on‑year, supporting its capacity to integrate Sky Tower’s assets.
What regulatory steps are required for the share swap? The transaction must be reviewed by the investment committee, and the proposal has been filed with the Egyptian Exchange to ensure transparency for investors.
