Building on their successful partnership, IGI Developments and Kulture Developments have announced a new phase in their collaboration. The two companies have signed an agreement to develop a mixed-use project, including commercial and administrative spaces, with a total investment of EGP 5 billion. The project has a prime location in West Cairo, overlooking Waslet Dahshour in 6th of October City, Invest-Gate reports,

The agreement has been signed by Eng. Sherif Moustafa, CEO and Managing Director of IGI Developments, and Mr. Mohamed Abdelhamid, CEO of Kulture Developments, in the presence of Mr. Khaled Sheta, Chairman of IGI Developments, Eng. Ahmad Mohamed Alaawad, Chairman of Kulture Developments, and members of the boards of both companies at the headquarters of Kulture Developments.

The project enjoys a strategic location close to all key facilities and services. It will include commercial, administrative, and medical units with a variety of spaces, in addition to a comprehensive range of amenities. Construction is scheduled to begin in November 2026, with operations expected to commence in the third quarter of 2029.

Strategic Partnership to Develop Two Mixed-Use Projects

As part of a comprehensive joint development agreement, this strategic partnership is backed by the combined expertise and vision of both companies as leading players in Egypt’s real estate sector. The partnership aims to transform strategic assets into vibrant and sustainable destinations, covering the development of two mixed-use projects that seamlessly integrate commercial, administrative, and medical facilities.

To ensure the successful execution and timely delivery of both developments, IGI Developments and Kulture Developments have partnered with Suez Canal Bank to provide integrated escrow guarantee solutions.

In this context, Eng. Sherif Moustafa, CEO and Managing Director of IGI Developments, emphasized the significance of the agreement, noting the Egyptian real estate market’s growing shift toward strategic partnerships among developers to deliver integrated and sustainable projects.

Sherif stated: “We are pleased with our collaboration with a pioneering entity like Kulture Developments, which has an innovative and creative approach and vision for real estate development.

We strive to provide a role model for a strong partnership that brings together experience, innovation, and real support from Suez Canal Bank, which continuously supports the real estate sector through its distinguished banking services. Together, we aim to deliver integrated real estate projects that reflect the true concept of partnership based on complete integration.

We will also introduce a competitive real estate product capable of generating sustainable investment returns for all investors over the coming years.”

On the other hand, Mr. Mohamed Abdelhamid, CEO of Kulture Developments, highlighted the importance of this milestone as both companies continue expanding their portfolios and delivering projects that meet the evolving needs of the Egyptian market.

He said: “Our strategic partnership with a leading company like IGI Developments marks an important milestone in Kulture Developments’ journey. It reflects our vision and growth strategy of collaborating with the best industry players.

Together, we will introduce an innovative concept for mixed-use developments that provides an integrated work environment offering the highest levels of comfort, stability, and growth opportunities.

This project also represents our first development in West October, one of Egypt’s most promising areas that has recently witnessed remarkable momentum, combining historical heritage with modern urban development.”

Projects Designed for Investment and Sustainability

The partnership between IGI Developments and Kulture Developments began with the “Patterns” project in the heart of New Cairo’s Fifth Settlement, located on one of the area’s most prominent main roads within the Golden Triangle.

The project features offices, clinics, and commercial units, alongside a diverse selection of services and international brands. Deliveries are scheduled to begin within three years.

These projects have been designed to achieve a dual objective: offering attractive investment opportunities while providing an exceptional level of convenience and services for end users. They will serve as key destinations meeting the daily needs of surrounding residential communities through internationally designed masterplans that combine modern architecture with optimal space utilization.

The projects were designed by Raef Fahmi Architects, one of the region’s leading architectural firms with an extensive portfolio of landmark developments across Egypt and the Arab world.

IGI Developments and Kulture Developments operate through highly experienced teams specializing in the development and marketing of mixed-use projects. Both companies have built strong track records in delivering successful commercial and administrative developments, supported by deep market expertise and a comprehensive understanding of customer needs.

About IGI Developments
IGI Developments is one of the largest real estate companies in Egypt, with more than 30 years of experience in real estate development.

It is an extension of the International Group for Investments “IGI” and the Sheta family, founded in 1942, with a significant impact across multiple economic sectors.

The company was among the first to introduce the concept of gated communities in Egypt in 1997 and has since developed landmark projects across East and West Cairo, including Gardenia Park, Gardenia Park II, and Gardenia Springs. IGI Developments owns a land portfolio exceeding 2.5 million square meters in strategic locations, serving more than 40,000 residents today, with plans to accommodate over 70,000 residents upon completion of its developments.

About Kulture Developments
Kulture Developments is an Egyptian real estate developer recognized for innovation across its portfolio. Established in 2024, the company is led by an experienced management team with a proven track record in the real estate sector.

Its portfolio includes Maliv in New Sixth Settlement, the commercial Pattern project in Fifth Settlement, Granoy, Iguall, IT Business Hub, Prk Vie, White Residence, and Cinco. The company is driven by an ambitious vision to deliver a new generation of distinguished real estate developments.