Al-Borouj Misr Unveils New Capital Projects with $198mln Investment
Deal News | Jan 16, 2025 | Zawya
Al-Borouj Misr Developments has announced an ambitious project launch in Egypt's New Administrative Capital, revealing two significant ventures, 6ixty Walk One and Two, with a total investment of EGP 10 billion (approximately $198 million). These projects aim to redefine Egypt's commercial and administrative spaces over an expanse of 40,000 sqm, ultimately offering 100,000 sqm of commercial and administrative space. Renowned retail operator Majid Al Futtaim will operate a Carrefour store at 6ixty Walk Two, enhancing the retail offering and aligning with Egypt's Vision 2030. High-profile figures such as Khaled Abbas and Hazem El Sherif emphasize the role of these developments in advancing urban progress and contributing to the nation's growth. The partnership aims to create job opportunities and strengthen Egypt's position as a regional trade and investment hub.
Sectors
- Real Estate Development
- Retail
Geography
- Egypt – The development projects are located in Egypt's New Administrative Capital, and the article discusses their impact on the country's urban growth.
Industry
- Real Estate Development – The article discusses Al-Borouj Misr's new projects focusing on commercial and administrative spaces in Egypt's New Administrative Capital.
- Retail – Carrefour's involvement through Majid Al Futtaim in the new 6ixty Walk developments emphasizes the retail aspect of the projects.
Financials
- $198 million (EGP 10 billion) – Total investment for the 6ixty Walk One and Two projects in Egypt's New Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Al-Borouj Misr Developments | Developer | Company | A real estate development company involved in launching the 6ixty Walk projects. |
| Administrative Capital for Urban Development (ACUD) | Government Entity | Government | Handles development initiatives for Egypt's New Administrative Capital. |
| Carrefour | Retail Operator | Company | An international retail group operating a store at 6ixty Walk Two. |
| Majid Al Futtaim | Retail Partner | Company | Operates Carrefour stores in Egypt, partnering in the New Capital development. |
| Khaled Abbas | Chairperson and Managing Director | Person | Chairperson and Managing Director of ACUD, celebrating the project launch. |
| Hazem El Sherif | Chairman | Person | Chairman of Al-Borouj Misr, highlighting the projects' significance for urban development. |
| Mohamed Khafaga | Country Manager | Person | Country Manager of Majid Al Futtaim Retail in Egypt, expressing enthusiasm for the partnership. |