Capital Group Properties continues to grow in Egypt

The company shows strategic growth despite economic turbulence in the nation

Despite an economic crisis in the nation, Egypt-based Capital Group Properties (CGP) is showing consistent growth in the market and has announced plans to further boost its strategic growth plan which focusses on expanding the company’s presence; driving sustainable development and contributing to Egypt’s economic growth and urban transformation.

CGP also appointed Ahmed Aref, who has been in the real estate industry for 20 years and worked in Egypt, UAE and Morocco, as its CEO. One of the founding members of CGP in 2015, Aref will now lead CGP’s efforts in driving the expansion plan forward, leveraging his deep understanding of the Egyptian market and his experience in the real estate industry.

Capital Group Properties has continued to exhibit growth despite economic headwinds in the Egyptian market. The company aims to build on its successful track record and milestones, which include a significant increase in sales margins, in addition to securing several strategic partnerships to support CGP’s development project, Alburouj in East Cairo.

“CGP has ambitious plans for expansion in Egypt, capitalising on the momentum gained from its success in the market. With a clear vision for growth, CGP aims to further develop Alburouj, solidifying its position as a leading player in the real estate sector,” said Suwaidan Al Dhaheri, CGP’s board member. Speaking about his new role, Aref said, “CGP has a strong foundation and a clear vision for growth. I am excited to work with our talented team to further expand our portfolio, build strong partnerships, and create developments that enhance the quality of life for our residents and contribute to the overall development of the Egyptian real estate market.”