IMKAN Misr announced the completion of its capital increase in the Egyptian market from EGP 881 mn to EGP 2.56 bn, following the approval of the company’s extraordinary general assembly in December last year, Invest-Gate reports.

The capital increase was finalized by issuing new shares for existing shareholders, with total investments amounting to EGP 1.68 bn during the last week of 2024.
IMKAN Misr, the owner and developer of the “Alburouj” project in New Heliopolis, covers a total area of approximately 3 mn sqm. IMKAN Misr is part of IMKAN Properties, a company that owns a portfolio of 26 global projects across two continents, covering 25 mn sqm, reflecting its commitment to providing innovative urban solutions and high-end real estate services that meet the needs of investors.
The recent capital increase is part of the company’s strategy to strengthen its sustainable growth and expand its presence in the Egyptian market. This will enable IMKAN Misr to seize more investment opportunities both locally and internationally, in addition to securing new contracts to support its plans for developing integrated urban projects according to the highest global standards.
Eng. Ahmad Aref, CEO of IMKAN Misr, expressed his happiness with the successful capital increase, saying: “This step reflects shareholder confidence in the company’s vision and future strategy.”
He added, “As part of IMKAN Properties’ regional growth plans, the parent company is supporting IMKAN Misr through the capital increase, which will enhance its competitiveness in the Egyptian market and open up new opportunities in the Gulf markets, in line with the government’s direction to promote real estate exports and strengthen Egypt’s position as a regional investment hub.”
He also pointed out the company’s significant success in attracting large foreign investments since the launch of Alburouj project in New Heliopolis, which was IMKAN Misr’s first project in 2016.
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.