Capital Group Properties (CGP) announced Tuesday, that the Egyptian Cabinet has issued a ministerial decree approving its first project Alburouj, according its CEO Walid El Hindi.
CGP is a company owned by leading UAE developers Abu Dhabi Capital Group (ADCG) and Al Ain properties that seeks to establish an integrated urban community in the area between Suez and Ismailia Desert roads, to provide modern residential units at competitive prices.
Spread over 1212 feddans, the project aims to provide housing to all segments of society. The company has purported that the project will provide 50,000 direct and indirect job opportunities.
Ahmad Aref the Head of Development said that the project will be implemented over several phases the first of which would be delivered in 2019 fully furnished along with all the services and amenities.