Emaar Misr, the Egyptian arm of Dubai developer Emaar Properties, on Sunday reported a big jump in first-quarter profits, supported by strong revenue growth.

The subsidiary of Dubai's largest real estate developer said profits reached E£172.7 million ($22.65 million) in the first three months of the year, up from E£30.7 million ($4.01 million) a year earlier.

The company's revenues rose 110 per cent in the same period to E£751.5 million ($98.19 million) from E£357.7 million ($46.73 million).

Emaar Misr, a big foreign investor in Egypt's real estate industry, filed a formal request in February to list shares on the Cairo stock market.

The listing is expected to take place in the second quarter and be worth more than E£2 billion ($261 million), making it the largest flotation on the Cairo exchange since 2007.

The Emaar Misr listing in Cairo highlights the growing links between Egypt and the United Arab Emirates. The UAE has been providing financial, energy and political support to the country since the army toppled President Mohamed Mursi of the Muslim Brotherhood after mass protests against his rule in 2013.

The Egyptian subsidiary has a portfolio of investments in Egypt worth around E£53 billion ($6.92 billion), according to its website.  - Reuters