IGI Developments has completed eight residential projects over the last 30 years, with a total population of over 30,000 people (approximately 6,000 families).This number is expected to be raised to 12,000 families by the time all units are delivered (a population of around 60,000).
The company has delivered 1,000 units in 2022, despite all challenges that faced the real estate sector. It is expected to double the number of delivered units in 2023.
Managing Director of IGI Developments Sherif Moustafa said that IGI Developments was very keen during this period to accelerate constructions, as it is targeting directing approximately EGP 1bn into the construction of its projects to fulfil the delivery deadline with its customers.
IGI Developments is also cooperating with a number of other companies specialised in architecture, design, and construction, among them Ginza Real Estate Company, and IBS Real Estate Co., a subsidiary company of Mobica specialising in integrated building systems, and is implementing some of the construction work related to some phases in Ashgar City. Along with LMS Company, a subsidiary company of Landmark Sabbour Development (LMD), which is currently implementing the construction work in Jada phase of Ashgar City and Ashgar Heights, and GDG Property Group is developing the infrastructure of Jada phase of Ashgar City and Ashgar Heights, meanwhile, under the supervision of LMD. Besides, Masar Alestethmar Real Estate Company is assigned to all landscapes of IGI Developments projects.
IGI Developments is also cooperating with significant companies in engineering consultancy, design, and project management, among them Pinnacle-TBH, OKOPLAN, EHAF, and Al Amaar Group, while EMDAD and Distance are responsible for designing the landscapes of non-residential projects.
He added that Ashgar City is located next to El Wahat Road, the Ring Road, El Fayoum Road, and Dahshour Road, It spanned over 148 feddan. Meanwhile, Ashgar Heights compound offered villas with different spaces.
He noted that IGI Developments had recently launched a new phase in Ashgar Heights of unit areas starting from 50 sqm = for studios and areas ranging between 80 and 200 sqm for apartments of three rooms, with installments up to eight years.
Some units of Ashgar City’s latest phase, Jada, were delivered, while the remaining is scheduled to be delivered between one and two years from now.
He pointed out that IGI Developments owns lands of 350,000 sqm allocated for non-residential projects, as the launch of four commercial and administrative projects will be announced 6th of October City, west Cairo in addition to a school built on 15,000 sqm and a multipurpose project of 50,000 qm on El Wahat Road with an investment value of EGP1bn. This is in addition to another commercial project located on Waslet Dahshour Road off Al Wahat Road, with a total investment of EGP 2.5bn.
IGI Developments announced its future plan that is targeting developing an integrated real estate project to be built on 540 feddan in New Sphinx City, which is just a few minutes away from Sphinx Airport.
