IGI Developments hits its target sales during the 12th edition of Cityscape Egypt, which took place from September 20 to September 23, 2023, at the Egypt International Exhibition Center, Invest-Gate reports.

While participating in the Cityscape exhibition, IGI Developments revealed its expansion and development plans for the upcoming phase, including the execution of integrated projects in commercial, administrative, medical, sports, and hotel sectors.

Sherif Moustafa, Managing Director of IGI Developments, unveiled the company’s intention to launch a project on the Wahat Road, featuring residential, commercial, administrative, and hotel components, with a total built-up area of 200,000 sqm. Due to its elevated heights, the project will provide clients with a view of the Pyramids.

“IGI Developments has started preparing designs for a commercial and administrative project spanning 10,000 sqm in Gardenia Park II,” Sherif Moustafa noted.

Moreover, IGI Developments owns a land portfolio of approximately 350,000 sqm for non-residential projects. The company aims to increase investments in the sports club sector and is currently designing a club within the Ashgar City, spanning 10 acres. The company is contracted with 12 academies to provide training at the club.

Furthermore, IGI Developments recently established an independent company called IGI Sports Management, to develop and build sports and social clubs.

Regarding the New Sphinx City project, which spans 540 acres, Sherif Moustafa said they expect to obtain the ministerial decision for the project’s initial phase in early 2024.

The company divided the project into two phases: the first covering 300 acres and the second covering 250 acres. The company received preliminary approval from the Urban Communities Authority to change the activity of the first phase from agricultural to integrated residential and urban development. The first phase will include residential, commercial, and administrative projects on the Cairo-Alexandria Desert Road.

As for the ongoing projects, Sherif Moustafa mentioned that the company is executing contracts worth EGP 3 bn and will sign new contracts with the Solid company for the Ashgar City project in the coming days.