BROUQ Developments Unveils Its Investment Plan in Egypt

BROUQ Developments Unveils Its Investment Plan in Egypt

BROUQ Developments plans to expand in the Egyptian market by launching a number of real estate projects within the coming five years, in support of the state’s plans for urban development, Invest-Gate reports.

Ibrahim El-Sayed Ibrahim, managing director and CEO of BROUQ Developments elaborates that the company aims to launch more than 10 new projects within the next five years at a total investment of more than EGP 10bn, whether in NAC, New Cairo, North Coast and Ain Sokhna. Additionally, the company is studying a number of investment opportunities in Upper Egypt and Delta regions.

The company has emerged from an alliance and cooperation between three of the largest companies operating in the Arab Gulf region, namely, Qhsp, Alfada, and NBS HOLDINGS, according to Ibrahim.

He explains that the alliance has recently launched a new project in Morocco over ​​560 acres for residential, entertainment, tourism and education properties. It is an integrated project with an investment cost of EUR 4bn.

Moreover, the company has launched its first investment in the Egyptian market in 2018 and has an investment portfolio worth approximately EGP 2bn, which includes Spark Capital Insight project.

Furthermore, a new residential and commercial project is to be developed in New Cairo, spanning an area of ​​19.3 acres, in a prime location near the American University, he concludes.

 

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