IMKAN Misr increases investments to EGP 2.56bn to drive expansion in Egyptian market

Daily News Egypt

04-05-2025

IMKAN Misr has announced the completion of a capital increase in the Egyptian market, raising its capital from EGP 881m to EGP 2.56bn. The increase was approved by the company's extraordinary general assembly in December last year and finalized in the last week of 2024 through the issuance of new shares to existing shareholders, bringing in total investments of EGP 1.68bn.
IMKAN Misr is the owner and developer of the Alburouj project in New Heliopolis, which spans a total area of approximately 5m square meters. The company is a subsidiary of IMKAN Properties, which manages a diversified portfolio of 26 global projects across two continents, totaling 25m square meters. This reflects IMKAN's commitment to delivering innovative urban solutions and high-end real estate services tailored to investor needs.
IMKAN Misr follows an ambitious strategy to reinforce its presence in Egypt's real estate sector while simultaneously pursuing regional and international growth. In alignment with its parent company, IMKAN Properties, the firm continues to diversify its investments across multiple sectors, including residential, hospitality, healthcare, education, facility management, and real estate technology.
The recent capital increase forms part of the company's broader strategy to ensure sustainable growth and expand its footprint in the Egyptian market. The additional funding will allow IMKAN Misr to capitalize on new investment opportunities both domestically and abroad, as well as secure new contracts that support its vision of delivering integrated urban projects that meet the highest international standards.
Ahmad Aref, CEO of IMKAN Misr, confirmed that IMKAN Properties is fully backing the company's growth trajectory through this capital injection, which aims to enhance its competitive edge in Egypt and unlock expansion opportunities in the Gulf. This move aligns with the Egyptian government's initiatives to promote real estate exports and elevate Egypt's regional investment profile.
Aref added: 'As part of its ongoing efforts to accelerate the progress of the project, the company has recently started executing several residential units distributed across key parcels, with construction already underway in the following parcels: Parcel 1.3B with 120 units, Parcel 3.8 with 220 units, Parcel 1.17 with 391 units, and Parcel 2.4 with 232 units. This accelerates the project's timeline and contributes to delivering new units to the market with the highest standards of quality and adherence to the target schedule.'
In the latter half of 2024, IMKAN Misr signed several strategic agreements to further support its development plans. Among these was a contract with Forward Construction to channel new investments into three residential areas, comprising 348 fully serviced units and green spaces across a total area of 192,000 square meters. The company also signed a contract with Global Energy to implement the third phase of infrastructure works, with investments amounting to EGP 445m.
The Alburouj project is a fully integrated residential community that currently houses approximately 3,500 residents, with the number steadily rising. It is located in New Heliopolis, just 15 minutes from the New Administrative Capital and 20 minutes from both the Fifth Settlement and Heliopolis. The development is distinguished by its expansive green spaces, which account for 80% of the project's total area.