News January 8, 2018

Capital Group Properties announces rebranding into IMKAN Misr

Capital Group Properties announces rebranding into IMKAN Misr

  • The company started handing over units to customers, while the finishing works are underway for other units
  • Sales turnover in AlBurouj over two years exceeds EGP 7 billion

Capital Group Properties (CGP), a leader in the development of high-quality integrated communities, have announced that they will be rebranding into IMKAN Misr.

CGP indicated that the rebranding is a part of their development agreement with their holding company, Abu Dhabi Capital Group (ADCG), to develop projects in Egypt and boost the company's real estate portfolio; therefore, the company is making a number of changes that will provide the best services to its customers. The company also announced it has already delivered a number of units in its Alburouj project to customers and that finishing works are currently underway in the rest of the units, in preparation for handing them over during the coming period.

IMKAN is a research-based real estate developer headquartered in Abu Dhabi, United Arab Emirates. It boasts a portfolio of 26 projects spanning 3 continents, 6 countries, and 30 million square meters of land and it aims to create soulful places that enrich people’s lives.

Its proposition is built around a unique research platform that uncovers the distinct social behaviors and habits of specific market segments, especially the younger generations, to formulate tailored user profiles. This research-led approach enables IMKAN to shape communities that are in tune with the mindset of each profile, thereby adding value for its stakeholders.

IMKAN Misr is proud to be present in Egypt through their Alburouj development, which is one of the major projects launched in the recent period. The company is currently the largest foreign investor in Egypt with USD 400 million injected into investments just last year. It has also been allocated a 166-acre land plot in New Cairo by the Ministry of Housing at a total value of EGP 5 billion.

The volume of construction works in Alburouj, over two years, amounted to more than EGP 6 billion, including the construction of 1500 housing units, in addition to 100,000 square meters of office spaces that are still under construction. AlBurouj has achieved large sales of over EGP 7 billion so far.