AGEC Developments announces the launch of IVY Residence project in El Shorouk City, with a total investment of EGP 800mn, Invest-Gate reports.

Ayman Rafla, chairman of AGEC Developments says, “The project is located in a privileged location in Shorouk City, directly on Suez Road, opposite Madinaty Gate. In addition, it includes 320 apartments and 70 villas of different sizes.”

Rafla notes that the IVY Residence compound is designed by two of the largest consulting offices, where Yasser Al Beltagy Architects (YBA) develops the master plan of the project, and GPS office develops the interior design of the project.

Moreover, it plans to deliver the entire project within three years. Delivery of buildings and villas in the project will begin within 15 months.

He reveals that the company has contracted with Suez Canal Bank to finance clients of the IVY Residence project, so that mortgage financing is provided to project clients through the bank, as part of the company’s plan to provide financing to clients, in addition to the state’s plan to bridge the gap between selling prices and clients’ purchasing power.

“AGEC Developments plans to develop a tourist project in Ain Sokhna or Ras Sudr. We are also looking into expanding in the North Coast in the future, to diversify the company’s investment portfolio and meet customers’ demands,” according to Rafla.