Al Mirage Awards Excavation Contract to Turkish Contracting for Hilton Capital Project
Al Mirage Real Estate Development, the real estate arm of Salim Holding Group, has signed a contract with Turki Contracting to execute excavation and shoring works for its flagship Hilton Capital Downtown project in Egypt’s New Administrative Capital, marking a key milestone in the project’s development timeline.
The company said the move reflects its commitment to delivering the project according to the highest quality standards and within the agreed schedule.
Eng. Mohamed Farag, Chief Executive Officer of Banks Investment - the parent company of Al Mirage Real Estate Development - described the launch of excavation and shoring works as a genuine turning point in the project’s lifecycle. He stressed that credible development begins with tangible on-ground execution, noting that a developer’s reputation is measured by adherence to timelines and engineering standards rather than promotional campaigns.
Farag explained that Turki Contracting was selected following a thorough evaluation of its technical capabilities and track record in delivering major projects. He added that the iconic nature of the Hilton Capital Downtown tower, as a multi-use development, requires the highest levels of engineering precision and safety compliance during the excavation and shoring phase - a critical stage to ensure the long-term structural integrity of the building.
The project is strategically located in the heart of Downtown in the New Administrative Capital, along the tourist towers strip and directly overlooking the Green River, positioning it as a highly competitive asset in one of the capital’s most dynamic investment and tourism hubs.
Designed as an integrated mixed-use landmark, the development combines hotel hospitality, serviced hotel apartments, administrative offices, and commercial spaces within a unified architectural concept that balances work, living, and leisure.
The project comprises two interconnected towers linked by a three-story commercial podium featuring retail outlets, restaurants, and cafés with double-height ceilings. Four underground levels will be dedicated to parking facilities serving the entire complex.
Al Mirage has partnered with Hilton Worldwide to manage and operate the hotel components, reinforcing the project’s investment value. The left tower will host two Hilton-branded properties: Hilton New Capital Downtown, a five-star hotel with 100 rooms and suites, and Hilton Garden Inn, a four-star hotel offering 180 rooms - ensuring international-standard management and services.
The right tower will feature fully finished and air-conditioned administrative offices ready for operation, in addition to serviced hotel apartments managed under Hilton standards. The upper levels will include a collection of luxury sky villas and a fine-dining restaurant offering panoramic views, enhancing the architectural and functional value of the project.
Farag emphasized that the development is positioned not merely as a traditional real estate offering, but as a long-term investment asset built on the integration of architectural design, engineering execution, and global hospitality management. He noted that the project is being developed in line with international construction standards, incorporating advanced safety systems, high-speed elevators, sophisticated security and surveillance technologies, and comprehensive leisure and wellness facilities.
He concluded that execution is progressing steadily according to a clearly defined strategic plan, aiming to position the project among the most prominent iconic towers in the New Administrative Capital, leveraging the local and international expertise of Banks Investment and Salim Holding Group.