Egyptian developer Emaar Misr's net profit soared 283 per cent during the first half of the year to E£522 million ($66.48 million), a report said.

Revenues increased 56 per cent to E£1.56 billion, as the company sold 748 residential units. The committed net sales also increased by 20 per cent to E£3.9 billion pounds ($496.73 million) in the first half of 2015, said a report in the Gulf News.

According to Emaar Misr, the company's earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 96 per cent, reaching E£506 million.

The total assets, as on June 30, were worth E£16.271 billion.

Emaar Misr, a unit of Dubai's Emaar Properties, floated 12.99 per cent of the company in an initial public offering (IPO) in June that was heavily oversubscribed, though the stock has performed poorly since the flotation and there was heavy demand for a recent share buyback offer.

Emaar Misr said on Sunday chief development officer Walid El Hindi and chief investment officer Ahmed Fathallah were leaving the company.