IGI Developments plans to inject EGP 1 bn into construction works during 2023, Invest-Gate reports.

IGI Developments delivered 1,000 units in 2022, despite all the challenges that faced the real estate sector. It is expected to double the number of delivered units in 2023.

Sheriff Moustafa, Managing Editor of IGI, says that IGI Developments was very keen during this period to accelerate the average level of construction and development, as it is targeting pumping not less than EGP 1 billion into the construction of its projects to fulfil the delivery deadline with its customers.

In addition, the real estate developer is also cooperating with a number of other companies specialised in architecture, design, and construction, among them Ginza Real Estate Company, which has a strong portfolio in this field, 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 implementing the infrastructure of “Jada” phase of Ashgar City and Ashgar Heights, meanwhile, under the supervision of “LMD” 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.

IGI Developments managing director notes that despite the economic challenges, the sales number the company achieved in 2022 was four times higher than that achieved in 2021. He adds that IGI is expected to achieve sales that are three times higher than what they were in 2022.