IMKAN Misr, a leading real estate development company, has announced the signing of agreements worth EGP 2.1bn. The contracts include a deal with Forward Construction for the development of three new residential areas within the Alburouj project, one of the largest integrated residential communities in New Heliopolis, with a total investment of approximately EGP 1.6bn.
Ahmed Aref, CEO of IMKAN Misr, stated that this new contract is part of the company’s strategy to deliver integrated urban products that meet the highest international standards. The Alburouj project has already doubled the pace of daily life for over 1,200 families currently residing there.
The contract with Forward Construction involves building three residential areas on 192,073 sqm, with a built-up area of 86,892 sqm. This development will include 348 residential units, featuring twin houses, townhouses, and standalone villas, with a completion timeframe of 22 to 24 months.
Additionally, IMKAN Misr has signed an agreement with Global Energy to implement the third phase of Alburouj’s infrastructure. This phase includes the construction of 3 kilometres of roads and approximately 44 kilometres of medium-voltage cables, with a total investment of approximately EGP 445m over 16 months.
Aref emphasized the company’s commitment to selecting the best strategic partners to enhance its journey in the Egyptian real estate market. He expressed confidence in the partnerships with Forward Construction and Global Energy, citing their extensive experience and successful track records in construction and infrastructure implementation.
Furthermore, Aref highlighted that the parent company aims to increase the capital of IMKAN Misr and expand into new markets in the Gulf Arab states. This aligns with the state’s direction to export real estate, especially after attracting significant foreign investments since the launch of the Alburouj project in 2016. The project offers high-quality living standards and luxury within a residential community that meets diverse customer needs, adding significant value to the Egyptian real estate market.
Alburouj is strategically located 15 minutes from the New Administrative Capital and 20 minutes from the Fifth Settlement and New Cairo. The project features advanced infrastructure compatible with the latest technology systems for managing energy and water resources efficiently, with 80% of the area dedicated to open green spaces.
