Imkan, a subsidiary of private equity investor Abu Dhabi Capital Group, said real estate developer Imkan plans to expand his offer in Egypt by continuing negotiations with the Egyptian government to obtain a parcel for future development.

“We have ambitious plans for Egypt, which will be the focus of our company’s expansion in the next year or so,” Walid El Hindi told The National.

Anlaşmanın önümüzdeki üç ay içinde sona ermesi bekleniyor. So, Imkan’ın Kuzey Afrika ülkesindeki hızlı nüfus artışının ortasında büyük oranda karma kullanımlı bir topluluk oluşturma yolunu açacak.

“The UAE and Egypt have a great relationship with one another, and Egypt’s population is expected to grow from 100 million now to almost 150 million by 2050, so there is no answer really but to offer real estate as a solution for that,” the chief executive added.

Launched in 2017, Imkan performs its first five real estate projects this year – Mr. El Hindi, a ü key – year for facilities – three in Abu Dhabi, a hotel in Morocco and a mixed-use program in Egypt. While the last one was depleted and was about to be handed over in this quarter, Sheikha Fatima Park, a retail sales program in Abu Dhabi, began renting the occupants last October.

Nudra, a luxury villa consisting of 37 villas on Saadiyat Island, sold 50 percent and built with over 60 percent handover. tenants as assets.

Furthermore, Imkan is building the 18-hectare ‘Makers Region’ on Reem Island, which is about to become a center for creative businesses and workshops.

Last year, Imkan announced that it was planning to carry out a $ 15 billion coastal project on the coastline between Abu Dhabi and Dubai. El Hindi stated that the first phase, which consists of 293 villas called Al Jurf Gardens, was for sale in February, and most of the buyers wanted a second holiday in Emirati families or bought holiday homes.

Plans for a luxury hotel and residence in the center of Abu Dhabi, designed by British architect Thomas Heatherwick and first announced in the cityscape of Abu Dhabi last year are still in progress. Ras Al Akhdar project will be adjacent to the Presidential Palace.

Imkan appointed a hotel operator four months ago, without explaining his name, according to El Hindi, and the two sides drafted a financial feasibility plan later this year, giving more details to the public.

Source: Arabian Business

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