Urbnlanes plans to raise investments in Egypt to $974.61mln

Urbnlanes Development, a subsidiary of Emeel Abdalla Investments, plans to increase its investments in Egypt to EGP 24 billion during 2023.

So far, Urbnlanes’ investments in Egypt amount to EGP 11 billion distributed on 3 projects, Urbnlanes CEO, Fadi Emeel, said during a press conference.

The first project is located in the New Administrative Capital (NAC) with EGP 6 billion investments and would be completed after three and half years.

The other two commercial projects will be launched in New Cairo city. The first project is spread over an area of 10,000 square metres with EGP 3 billion investments and would be delivered in three years, and the other one spans 4,780 square meters with EGP 2 billion investments and would be completed in two years.

Urbnlanes Development has appointed Savills to provide strategic advisory services for the company’s projects.