Emaar's Egypt unit signals chairman role change ahead of float

Emaar Misr, the Egyptian unit of Dubai developer Emaar Properties, said on Monday investors would vote later this month on whether to amend chairman Mohamed Alabbar's position on the board.

There has been increased speculation that Alabbar, who founded and has run Emaar Properties since its inception in 1997, may leave due to his other commitments in the real estate sector.

This includes as a founding member of Capital City Partners, a developer which was awarded a $45 billion contract to build Egypt's new administrative city.

Emaar Misr's annual shareholder meeting on April 20 would "discuss his membership (as) chairman of the board of directors and managing director representing Emaar Properties," according to a statement on the Egyptian Exchange.