IMKAN allocated EGP 5 bn, 166-acre New Cairo land plot

IMKAN Properties, a subsidiary of the UAE’s Abu Dhabi Capital Group (ADCG), has been allocated a EGP 5 bn, 166-acre land plot in New Cairo by the Housing Ministry, the company said in a statement. CEO Ahmed Fathallah said that the company is planning further investment in Egypt’s real estate market.