IL Cazar Developments acquires two plots with a total area of 230 acres in New Cairo, raising the company’s project portfolio to six projects in various areas, Invest-Gate reports.
Nader Khozam, chairman of IL Cazar Developments, says that the first plot spans over 160 acres in the 5th Settlement and the company plans to launch a project on it in February 2023. The second plot spans over 70 acres in the Golden Square area in New Cairo and the company will launch a project on it next December.
Additionally, the company studies investment opportunities and plans to implement distinct projects on the two new plots due to their distinctive location.
IL Cazar owns four different projects, namely Creek, NORD, Go Heliopolis, and AI. These projects differ in terms of location, design, and real estate product offered, but they all share the element of integration and luxury that the company achieves for its clients within each project.
Furthermore, the company is developing Creek project in the 1st Settlement, with an estimated investment of EGP 8 bn. The project will be delivered by 2024 with an estimated investment of EGP 8 bn.
IL Cazar develops NORD project, which is located on 80 acres in New Alamein and overlooks the main lake, which has a width of 1,200 meters. The company is also working on Go Heliopolis project, which is a 1,500-unit integrated housing project in Heliopolis, while phase I is set to be completed by the end of 2022.
Alike, the company is developing AI project on 25 acres with a total built-up area of 200,000 sqm. The project’s total investments are EGP 6 bn. It is a commercial medical administrative project over 10 acres on the New Suez Road in the 1st Settlement.