(MENAFN- Daily News Egypt) IGI Developments, a prominent player in Egypt's Real estate sector, has announced several significant updates as it marks its 30th anniversary. Established in the Nineteens, the company was among the pioneers in introducing gated communities in both West and East Cairo.
Building on three decades of achievements, IGI Developments has revealed an ambitious growth strategy aimed at reinforcing its presence in the market. This plan includes launching three new specialized entities, one dedicated to club management and development, another focused on asset and facility management for non-residential properties, and a third for gated community management. These additions represent a strategic shift toward offering integrated services that add value for clients.
IGI Developments is directing great efforts towards completing the various phases of its developments, targeting the delivery of 900 units across different projects according to the set timelines for execution and handover in 2024. To ensure transparency and maintain trust with its clients, the company prioritizes securing contractor agreements prior to project launches, a practice that has allowed it to meet most of its sales targets for the year. A noteworthy 35% of total sales were generated from international clients, underscoring IGI's growing appeal in the Arab and global real estate markets.
IGI Developments' project portfolio continues to expand to meet increasing market demand, with the acquisition of new land parcels adjacent to its existing developments. The company has integrated these plots into current projects, such as Ashgar City on the 6th of October City, to diversify its offerings. Additionally, the company is expanding its commercial, administrative, and medical project footprint, with two major developments, one in October Gardens and another in Dahshur Link, the latter scheduled for launch soon. Also, the company plans to develop a new club on a 12-feddan area and another club on the 6th of October City on a 6-feddan site.
On the horizon, IGI Developments is preparing to finalize a contract for 540 acres in New Sphinx City, a prime location along the desert road and northern expansions. This project is currently in the design phase, with the first phase set for launch in early 2025. This low-density development will feature premium units.
In this context, Eng. Sherif Mostafa, CEO of IGI Developments, expressed his happiness and enthusiasm about being part of a significant real estate entity that has rightfully carved out a special position in the local and regional real estate market over the years. He stated,“After 30 years since the founding of IGI Developments, we are celebrating an exceptional journey of success and innovation. This journey began within the framework of IGI Holding and the“Sheta's Family”, an entity with over 80 years of history in Egypt's most significant economic sectors, from which IGI Developments emerged as a strong real estate developer offering the market a unique and innovative product.”
Mustafa continued,“We are committed to delivering the highest levels of quality in every project we implement, and we aim to achieve our clients' intentions and even exceed their expectations always. We always seek to meet their needs through integrated projects and prices that suit their financial capabilities with flexible payment plans. We are also keen on direct interaction with them to understand all their requirements, through our presence at various local and international exhibitions. Soon, we will be with them at the Cityscape exhibition for the third consecutive year to showcase our latest achievements and projects, and we look forward to welcoming our visitors and sharing with them our journey towards excellence and success.”
Looking ahead, IGI Developments aims to further solidify its leadership in Egypt's real estate market by expanding its projects portfolio in line with the company's ambitious strategy. The company continues its legacy with a range of diverse projects, including“Ashgar Heights” on Al Wahat Road in 6th of October City, spanning 38.5 feddans, which includes the“Starla & Skyla” development. Additionally,“Ashgar City” in 6th of October Gardens covers 160 feddans after its expansion, and“Garden Gate” is located within Ashgar City on an 11-feddan area. The company has also fully completed“Al Ashgar,” a 176-feddan project, which includes the final phase“Jada” over an area of 23,500 square meters.
Other completed projects in 6th of October City include“Gardenia Park,” which spans 90 feddans, and also“Gardenia Park II.” In New Cairo's Fifth Settlement, IGI Developments completed its residential project“Gardenia Springs,” one of the company's first developments on Gamal Abdel Nasser Axis, covering 58 feddans. The company also has a comprehensive expansion plan, which includes the development of a commercial project in partnership in New Cairo's Fifth Settlement, in addition to exploring key investment areas to identify the best opportunities that align with its future expansion strategy.
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