By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    June 1, 2023
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    June 1, 2023
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    June 1, 2023
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    June 1, 2023
    Egypt's new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    June 1, 2023
  • Politics
    PoliticsShow More
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    June 1, 2023
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    June 1, 2023
    Egypt and France discuss joint cooperation in the health sector
    Egypt and France discuss joint cooperation in the health sector 
    June 1, 2023
    AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
    AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
    May 31, 2023
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    May 31, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Capital Group Properties develop ‘Alburouj’ project with investments of EGP40bn
Share
Notification
Latest News
Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
Egypt hosts InnoXera Summit on education in artificial intelligenceage
Egypt hosts InnoXera Summit on education in artificial intelligenceage
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Real Estate > Capital Group Properties develop ‘Alburouj’ project with investments of EGP40bn
Real Estate

Capital Group Properties develop ‘Alburouj’ project with investments of EGP40bn

Hamada Ismail
Last updated: 2016/03/29 at 6:50 PM
By Hamada Ismail 2 Min Read
Share
"Capital Group has trust in the Egyptian real estate market,” Jassim Al-Seddiqi, a member of the Board of Directors
SHARE

Capital Group Properties, a real estate development company, have developed the ‘Alburouj’ project with investments worth EGP40bn. The site of the project is 1,212 acres and it will create 30,000  housing units in the area between Suez and Ismailia Desert Road.

“Capital Group has trust in the Egyptian real estate market,” Jassim Al-Seddiqi, a member of the Board of Directors, said  “There have been positive developments on economic and political levels in the market, especially as the government is looking to permanently eradicate obstacles facing local and foreign investors, which is further driving the group to strengthen its presence in the Egyptian market.”

During a press conference held by the company on Monday, Al-Seddiqi said: “Capital Group has a history of real estate achievements in several countries, including the United Arab Emirates, England, and the Seychelles. The shareholders in the implementation of the ‘Alburouj’ project are Abu Dhabi Capital Group and Al Ain Properties.”

The company paid $100m to the New Urban Communities Authority to change the licence from touristic to urban habitable, which is the first instalment of the full amount required to deliver utilities and fees to launch the project, Al-Seddiqi said.

Capital Group Properties Chief Executive, Walid El-Hindi, said the project will provide 50,000 jobs and the company will rely on Egyptian workers to assist with major global and Egyptian consulting offices.

The company will seek further government communication to support investments, El-Hindi said.

‘Alburouj’ project has nothing to do with the new Administrative Capital project, which will be carried out by the government, the chief executive said.

During the conference, Minister of Housing Mostafa Madbouli said in his speech that the government is keen to overcome any obstacles and encourage Arab investments and calls for Arab investors to work in the Egyptian market. The minister said that Capital Group Properties is adding to the Egyptian market.

You Might Also Like

Sorouh partners with RICON Construction to establish new projects with EGP 30bn investments

Real Estate Development Chamber proposes solutions to boost local market

Housing Ministry allocates 250-feddan land plot to Madaar to build Azha North project

Contact Developments launches its 4th project in New Capital, Eval Towers

Infinity Towers completes 55% of construction of its flagship project in New Capital

TAGGED: housing units, investments, Ismailia, Suez
Share this Article
Facebook Twitter Email Print
Previous Article Immigration Minister in Khartoum to discuss detention of Egyptian students
Next Article Minister, CBE governor to reschedule EGP 40bn debts of public companies: government source
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?