With total investments of 2 Billion EGP
“Capital Group Properties” Contracts with “Innovo Group” to Build Two New Residential Zones in “Alburouj” Project in East Cairo

•Eng. Ahmad Aref, CEO of “Capital Group Properties” – CGP: We are committed to choosing the best partners and collaborating with leading global brands that meet our customers’ expectations.
•Commencement of construction work in Q4 2023… including the construction of 900 residential units.

Capital Group Properties for Real Estate Development (CGP), the owner of “Alburouj” residential project- one of the largest and most luxurious integrated urban communities in East Cairo, has announced its partnership with ““Innovo Group”” to construct two new residential zones within the project, with a total investment of 2 billion EGP.

Eng. Ahmad Aref, CEO of Capital Group Properties for Real Estate Development (CGP), stated that the partnership with “Innovo Group” came after a public tender in which major construction and contracting companies competed, and “Innovo Group” secured the contract with the best offer. He added that construction work in the new areas will commence in Q4 2023, with the construction of 900 residential units, including apartments and townhouses, to be delivered in 2025.

Aref praised the new partnership between Capital Group Properties and “Innovo Group”, highlighting their extensive experience and outstanding track record in the construction and building sector in the region. He expressed confidence in the enormous potential of the company to deliver a unique real estate experience within “Alburouj” residential project.
He emphasized Capital Group Properties’ commitment to selecting the best partners and global brands in all its business sectors, aligned with the company’s operations in Egypt and its desire to maintain its leading position in the Egyptian market, exceeding customer expectations and delivering top-quality products and offers.

Aref noted that “Alburouj” is not just a comprehensive urban community offering top-quality services but also represents the ideal destination for those seeking a sophisticated living experience characterized by the highest standards of privacy, excellence, and luxury. He mentioned that some areas within the project have been completed and handed over to owners, with the delivery of more than 2,127 homes.

On the other hand, Eng. Mohamed Gamal, Managing Director of “Innovo Egypt, expressed pride in partnering with Capital Group Properties to execute the new phases of “Alburouj” project. He also emphasized on Innovo’s team dedication to collaborate with their customers to plan, manage, and deliver projects, ensuring the achievement of Innovo’s customers’ goals in a timely manner, with great attention to details and superior construction quality. Gamal, highlighted that Innovo’s team is committed to meet our customers’ expectations.

Alburouj, spanning 5 million square meters, is located in East Cairo, just 15 minutes from the New Administrative Capital and 20 minutes from Fifth Settlement and New Cairo. It has a total investment of 77 billion Egyptian pounds and includes residential units ranging from 70 to 450 square meters. The project features international schools, commercial mall, 70-acre Orchard Park, retail area, cultural hub, sports club, and civil affairs office, in addition to the opening of the first Carrefour store in the project in September 2023.