Egyptian real estate developer Iwan Developments, a subsidiary of Iwan Group, held a press conference on March 8 in celebration of its 15th anniversary, Invest-Gate reports.

During the conference, the company revealed the details of its investment plans for 2018, highlighting its efforts to help meet demand in the local real estate market.

“Today we celebrate 15 years of achievements, achieving outstanding milestones, projects and, objectives that make us very proud,” Iwan Developments CEO Walid Mokhtar said.

 “Our total investment in 2017 was EGP 1 bn, while sales reached EGP 2 bn. In 2018, we aim to expand our investments to a total of EGP 2 bn and double our sales to reach EGP 4 bn,” Mokhtar noted.

“Our business model enables us to introduce comprehensive and sustainable urban communities with high occupancy rates of more than 75% across our delivered projects, emphasizing the fact that we are catering to real customer demands, be it for residential or commercial purposes,” according to Mokhtar.

Iwan Developments aspires to be one of Egypt’s top three real estate developers in the coming five years.

 Iwan Developments’ project portfolio comprises seven residential projects and 10 commercial projects, with an “aggressive” plan to achieve a 100% business growth rate in 2018.

The subsidiary will also announce soon the details on its latest project at Cairo-Alexandria Desert Road, in addition to a new expansion in east Cairo and resort destinations.

Mokhtar also highlighted the company’s project portfolio which includes Jeera, a residential project delivered in 2013 and comprises villas, townhouses, and twin houses, alongside a club house and commercial spaces.

Jewar, an extension of Jeera, is another project handed over in 2018 and boasts residential apartments, in addition to promenades, a swimming pool, kids’ areas, and commercial spaces.

The company has also Jedar and its deliveries have already started this year, four months prior to its contractual delivery date, in addition to Atrio and Alma compounds in Sheikh Zayed.

The press conference was attended by Iwan Group’s CEO Walid Mokhtar and Iwan Developments’ Chief Commercial Officer Mostafa Salah, as well as the executive team and Egyptian media.      

Iwan Group operates in different areas including project development and management, architectural designs, and consultancy.