Innovo secures EGP 2.2 billion contract at Alburouj, boosting Egypt real estate investment
Leading construction and development firm Innovo Build has secured a contract worth EGP 2.2 billion from IMKAN Misr to deliver the next phase of its flagship residential-infrastructure community, Alburouj, situated along the Cairo-Ismailia Desert Road in East Cairo.
The agreement covers construction of 18 premium residential buildings with a combined built-up area of more than 80,000 m², along with landscaping exceeding 20,500 m² and 21,000 m² of road infrastructure. The 900-day project will include full substructure and superstructure concrete works, architectural and external finishes, first-fix MEP installations, boundary fencing, guard rooms and controlled-access systems.
IMKAN Misr’s Alburouj development underscores Egypt’s growing appeal in the real estate investment and residential development space. Despite inflationary pressures and rising construction costs, Egypt’s real estate market continues to show resilience: recent data estimates property-price increases of 10-30 per cent in 2025, driven by strong demand, supply constraints and supportive urban-growth policies.
Sameh Fam, CEO of Innovo Build, commented: “We are honoured to partner with IMKAN Misr on this transformative phase of Alburouj… Innovo is committed to delivering excellence across every detail.” Mohammad Gamal, MD of Innovo in Egypt, added that the project “represents more than construction — it is shaping the future of urban living in Egypt.” Ahmed Aref, CEO of IMKAN Misr, noted that Alburouj, spanning five million m² in New Heliopolis, dedicates over 80 per cent of its space to green areas, seamlessly blending nature and urban living.
The affiliation between Innovo and IMKAN Misr highlights the strategic shift toward large-scale integrated communities in Egypt, catering to both local demand and investor interest in the Egypt real estate market. As the residential sector remains one of the pillars of Egypt’s economic diversification and urbanisation efforts, the deal signals growing momentum in premium housing and infrastructure development across Greater Cairo and beyond.
