Imkan Misr has awarded two major contracts totaling 2.05 billion Egyptian pounds ($42 million) as part of the ongoing development of its Alburouj project in New Heliopolis, Cairo. These contracts cover the construction of residential units and key infrastructure within the project.
Forward Construction has secured a contract valued at EGP 1.6 billion ($33 million) to build three new residential areas within Alburouj. This development will include 348 residential units, consisting of twin houses, townhouses, and standalone villas. The project will span an area of 192,073 square meters, with a built-up area totaling 86,892 square meters. The construction is expected to be completed within 22 to 24 months.
In addition, Global Energy has been awarded a contract worth EGP 445 million ($9.2 million) to develop infrastructure for the third phase of the Alburouj project. This contract includes the construction of 3 kilometers of roads and the installation of approximately 44 kilometers of medium-voltage cables. The infrastructure work is slated for completion within 16 months.
Imkan Misr’s CEO, Ahmed Aref, expressed confidence in the selection of Forward Construction and Global Energy, highlighting their extensive experience and strong track record in both construction and infrastructure projects. These factors were pivotal in their selection through a public tender process.
Aref also revealed that the parent company plans to increase Imkan Misr’s capital and expand into new markets in the Gulf region. This strategy aligns with the Egyptian government’s initiative to attract foreign investment into the real estate sector.
To date, Imkan Misr has sold 4,700 units within the Alburouj community and handed over 2,000 of them. The entire project, which is being developed in three phases, is on track for completion by 2030.
Launched in 2016, the EGP 100 billion ($2.1 billion) Alburouj project is one of the largest integrated residential communities in New Heliopolis, currently home to 1,200 families.
