Capital Group Properties reinforces commitment to strategic growth plan in Egypt
Capital Group Properties (CGP), a market leader in Egypt’s real estate development, has announced plans to further drive its strategic growth plan in Egypt. With a strong focus on expanding its presence and driving sustainable development in the country, CGP aims to contribute to Egypt’s economic growth and urban transformation.
As part of its growth plan, CGP appointed Engineer Ahmed Aref as its new Chief Executive Officer (CEO). With a remarkable career spanning over 20 years in the real estate sector in Egypt, UAE and Morocco, Eng. Aref brings extensive expertise and leadership to his role. He was one of the founding members of CGP at its inception in 2015, spearheading the company’s Development Department.
In his new position, Eng. Aref will 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. His appointment demonstrates CGP’s commitment to bringing on visionary leaders who can navigate the evolving landscape of the real estate sector and contribute to the company’s strategic growth objectives.
CGP 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 flagship development project, the Alburouj development, which has become one of the top, integrated real estate developments in East Cairo.
“We are pleased to welcome Eng. Ahmed Aref to our team. His appointment comes at a significant time in CGP’s journey, as we look to further build on our strategy and achievements, and to drive our expansion plans. Eng. Aref brings decades of experience and we are confident that under his leadership, CGP will continue to thrive and make significant contributions to Egypt’s real estate sector,” Engineer Suwaidan Al Dhaheri, CGP’s Board member, commented.
“CGP has ambitious plans for expansion in Egypt, capitalizing 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,” added Engineer Suwaidan Al Dhaheri
Commenting on his new role, Eng. Aref said: “I am honored to take on the role of CEO at Capital Group Properties and contribute to its ongoing success in Egypt. 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 Egyp.an real estate market.”
Eng. Aref succeeds Mr. Abdalla El Nockrashy, who successfully led CGP Egypt for the past four years. In his new capacity, Mr. El Nockrashy will assume the position of Special Advisor to the Board Executive Committee and Shareholders of CGP.
With its strong financial position and track record of successful projects, CGP is well-positioned to support Egypt’s strategic development plans, including the country’s ambitious vision for urban transformation and sustainable urbanization. The company continues to explore new opportunities and collaborations to further expand its portfolio and deliver exceptional properties that meet the evolving needs of the market.
CGP’s Alburouj development is located on the Cairo-Ismailia Desert Road between the New Administrative Capital and the Fifth Settlement. Alburouj spans over five million square meters, and includes 15,000 diverse residential units, representing an investment of EGP 47 billion.
