“IMKAN Misr”, a leading real estate development company, has announced signing an agreement with “Forward construction” for the construction of three new residential areas within “Alburouj” project, one of the largest integrated residential communities in New Heliopolis, with total investment of approximately EGP 1.6 billion.
Ahmed Aref, the Chief Executive Officer of ” IMKAN Misr”, stated that the new contract is part of the company’s plan to provide integrated urban products according to the highest international standards and to complete the successes achieved during the implementation phases of “Alburouj” fully integrated project, where the pace of daily life has doubled for more than 1200 families currently residing in the project.
Aref added that the new contract with “Forward Construction” aims to build three residential areas on an area of 192,073 square meters with a built-up area of 86,892 square meters, to include 348 residential units with various designs including twin houses, townhouses, and standalone villas, within a timeframe ranging from 22 to 24 months.
Aref also announced that ” IMKAN Misr” has signed an agreement with “Global Energy” to implement the third phase of the infrastructure of “Alburouj” project, which includes the implementation of 3 kilometers of roads and approximately 44 kilometers of medium-voltage cables, with a total investment of approximately EGP 445 million over a period of 16 months.
Aref affirmed the company’s eagerness to select the best strategic partners to enhance its extended journey in the Egyptian real estate market, expressing his confidence in the partnership with “Forward Construction” as well as “Global Energy” due to the companies’ extensive experience and successful track record in construction and infrastructure implementation, which contributed to their success in winning the public tender issued by the company, where the largest contracting and infrastructure companies competed after submitting the best offers.
Aref pointed out that the parent company aims to increase the capital of ” IMKAN Misr” and open new markets in the Gulf Arab states, which is in line with the state’s direction to export real estate, especially after its success in attracting large foreign investments to the country since the beginning of the implementation of “Alburouj” project, the first of ” IMKAN Misr” projects in 2016, which provides high levels of quality of life and luxury within a residential community that meets the needs of all customers and provides a strong and unique addition to the Egyptian real estate market.
“Alburouj” is one of the largest integrated residential communities in New Heliopolis, located 15 minutes from the New Administrative Capital, and 20 minutes from the Fifth Settlement and New Cairo. The project is characterized by a developed infrastructure that is compatible with the latest technology systems for managing energy and water resources in a rational manner, amidst open green spaces that represent 80% of the project’s area.
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