Capital Group Properties (CGP), a subsidiary of Abu Dhabi Capital Group, signed five memoranda of understanding (MOU) with local and international organizations to implement the Al Burouj project, reported Al Borsa News.
Smart Villages Development and Managment Company (Svc), Smart Village, The International Schools of Choueifat, El Sawy Culture Wheel, and AL BUSTAN for Food Industries and Redcon Medical Park were among the companies that signed the MOU with CGP, reported Amwal Al Ghad.
“The company is looking to establish an integrated community, through the means of recreational and cultural services,” said Walid El Hendy, CGP’s CEO.
The Al Burouj project will include a medical center over an area of 22,000 acres for EGP 400 million. A school complex for primary, elementary, and high school education will alsol be built for an investment of EGP 200 million.
Al Burouj is an integrated residential project covering an area of 1,212 acres and is set to include 30,000 residential units.