Latest news with #IMKANProperties
Daily News Egypt
04-05-2025
- Business
- Daily News Egypt
IMKAN Misr increases investments to EGP 2.56bn to drive expansion in Egyptian market
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.
Zawya
02-05-2025
- Business
- Zawya
Egypt's IMKAN Misr completes $50mln capital increase to support growth plans
Egyptian real estate developer IMKAN Misr has completed a capital increase to 2.56 billion Egyptian pounds ($50 million), up from EGP 881 million ($17 million), following a rights issue that raised EGP 1.68 billion ($33 million) from existing shareholders, CEO Ahmad Aref said. 'This step reflects the shareholders' confidence in the company's long-term strategy,' Aref told Zawya Projects. 'The capital increase will enhance our competitiveness in the Egyptian market and open up new opportunities in the Gulf markets, aligning with the government's efforts to promote real estate exports and position Egypt as a regional investment hub.' IMKAN Misr is a subsidiary of UAE-based IMKAN Properties, which is owned by Abu Dhabi Capital Group and Al Ain Properties The company is developing the Alburouj integrated residential project in New Heliopolis, which spans approximately 3 million square metres (sqm), and currently houses around 3,500 residents. Aref said construction is ongoing across several parcels: Parcel 1.3B (120 units), Parcel 3.8 (220 units), Parcel 1.17 (391 units), and Parcel 2.4 (232 units) In late 2024, IMKAN Misr signed an agreement with Forward Construction worth EGP 1.60 billion to build 348 serviced units across 192,000 sqm. It also awarded Global Energy the third phase infrastructure works contract, valued at EGP 445 million. IMKAN Properties, the parent company, manages a global portfolio of 26 projects spanning 25 million sqm across two continents. (1 US Dollar = 50.92 Egyptian Pounds) (Reporting by Marwa Abo Almajd; Editing by Anoop Menon) (
Zawya
17-04-2025
- Business
- Zawya
IMKAN hosts exclusive media preview of Naseem AlJurf coastal community
IMKAN, a leading global master developer based in Abu Dhabi, hosted an exclusive media event to unveil Naseem AlJurf, the latest addition to its iconic AlJurf community along the Emirates Riviera. Following the successful sellout of Release 1, IMKAN is now launching Release 2 of Naseem AlJurf. This new coastal lifestyle destination features 111 villas, 60 townhouses, and 8 apartment buildings, set across approximately 90,580 m² as part of the expansive AlJurf masterplan. The event showcased the project's refined design ethos, which blends heritage, nature, and modern living in a serene coastal setting between Abu Dhabi and Dubai. Engineer Suwaidan Al Dhaheri, CEO of IMKAN Properties, said: 'With Naseem AlJurf, we have envisioned a sanctuary where tradition meets modernity. It reflects our commitment to placemaking and creating soulful communities that enrich lives while preserving the natural beauty of Sahel Al Emarat.' About IMKAN Properties: IMKAN, the leading global real estate master developer based in Abu Dhabi has earned its reputation with a portfolio of 26 projects spanning five countries across two continents. As a wholly-owned subsidiary of Abu Dhabi Capital Group, IMKAN prioritises the creation of soulful places that enrich lives. This philosophy is driven by a unique research platform that empowers IMKAN to understand the needs and desires of their diverse customer base, ranging from millennials to discerning high-net-worth individuals. Notable among its projects is IMKAN's AlJurf masterplan, a 3.8 million sqm mixed-use development along a 1.6km coastline and 9km long canal front, all set within a preserved natural ecosystem between Abu Dhabi and Dubai. AlJurf is set to become a global health and wellness destination when the SHA Emirates Residences open in 2026, with the third international SHA Wellness resort joining the flagship award-winning SHA Wellness Clinic in Spain. Other significant projects include Makers District on Al Reem Island, Abu Dhabi, an 18.6-hectare waterfront mixed-use development featuring Pixel, a cluster of seven residential towers; Nudra in Saadiyat Island, an exclusive beachside community; and Sheikha Fatima Park, Abu Dhabi's first urban park. With offices in Egypt and Morocco, IMKAN's global presence includes major projects like the 500-hectare Alburouj development in Egypt. In Morocco, key projects include Le Carrousel Residences and the country's first open-air shopping mall.
Arabian Business
21-02-2025
- Business
- Arabian Business
UAE real estate: IMKAN launches new Abu Dhabi waterfront development Naseem AlJurf in Ghantoot
Abu Dhabi-based master developer IMKAN has announced the launch of Naseem AlJurf, a residential development within the AlJurf masterplan spanning 3.8 million square metres in the Emirates Riveria. The project features 111 villas, eight apartment towers and 60 townhouses, situated in the Ghantoot region. Abu Dhabi's latest community The location offers connectivity to major transport hubs, positioned 45 minutes from Abu Dhabi and Al Maktoum International Airports, with access to Dubai Marina, Saadiyat Island, Palm Jebel Ali, and Habtoor Golf Course. 'Naseem AlJurf epitomises IMKAN's commitment to crafting soulful places that resonate with the desires of today's residents. This community not only offers unparalleled luxury but also reflects our dedication to preserving the natural beauty and heritage of Sahel Al Emarat. With Naseem AlJurf, we've envisioned a sanctuary where tradition meets modernity, delivering an extraordinary lifestyle that truly enriches lives,' Engineer Suwaidan Al Dhaheri, CEO of IMKAN Properties said. View this post on Instagram A post shared by IMKAN (@imkanproperties) Naseem AlJurf, meaning 'breeze', features 1.6 km of coastline and a 9-kilometre canal front. The development includes canal villas with water views, alongside Somer, Tala, and Banyan villas, and Alghaf and Sikka townhouses. The project incorporates a gated community structure with 900 linear metres of waterways. A retail hub, Naseem Plaza 'Souk', offers 1,400 square metres of commercial space, while a promenade extends 130m in depth and 70m in width. The development preserves 233,500 square metres of natural environment. The launch follows the handover of AlJurf Gardens Phase 1, the first community in the AlJurf masterplan.
Arabian Business
05-02-2025
- Business
- Arabian Business
Klickl teams up with IMKAN Properties to enable cryptocurrency payments in UAE real estate market
Klickl, the UAE-based Web3 financial platform, announced a collaboration with IMKAN Properties, an Abu Dhabi-based global real estate master developer, to facilitate property purchases through cryptocurrency. The collaboration will allow IMKAN to offer its clients the option of converting cryptocurrencies, including Bitcoin, Ethereum, and stablecoins like USDT for use to invest in premium real estate. The collaboration reflects a growing demand for alternative payment solutions in high-value sectors like real estate, particularly from international investors who seek secure, fast, and flexible options, the company said. By offering Klickl's cutting-edge cryptocurrency payment processing system, IMKAN aims to provide customers with seamless access to these capabilities, making it easier for them to invest in premium real estate across the UAE. 'Our collaboration with IMKAN aligns with our mission to extend the benefits of Web3 technologies into everyday business transactions,' said Michael Zhao, CEO of Klickl. 'From cross-border remittances to real estate investments, digital currencies offer an unmatched level of convenience, transparency, and efficiency. By supporting IMKAN's customers with both crypto payment acceptance and fiat conversion, we are creating a model that other real estate companies can adopt to attract a new generation of buyers,' he said. As part of the initiative, the two companies will establish a dedicated task force to oversee the rollout of the offer to use crypto for real estate payments. This group will focus on optimizing the customer experience and gathering feedback to refine the offering over time. The long-term vision includes expanding the use of digital finance tools across IMKAN's full range of projects, from luxury residential developments to large-scale commercial properties. 'The UAE is rapidly emerging as a major crypto hub driven by the region's welcoming regulatory environment and its proactive approach to supporting the digital asset sector,' said Suwaidan Al Dhaheri, CEO of IMKAN Properties. 'Together with Klickl, we are helping to ensure that the UAE will remain a leader and not a follower in digital currency proliferation,' he said.
