Iwan Developments unveiled on May 22 its plans to launch two new residential projects in New Cairo and Ain Sokhna, following the allocation of lands in these areas last February, Invest-Gate reports.

This comes in line with the company’s plans to transfer its exceptional experience and real estate concepts it had implemented at its 6th of October City projects to other areas in the Egyptian market, Ahmed Salah, Iwan Development’s head of the business development, said during a ceremony held to celebrate the announcement at Marriott Mena House Hotel, west Cairo.

Commenting on the move, CEO of Iwan Developments Waleed Mokhtar said, “We have become the top developer of high-end residential communities in 6th of October City, west Cairo, without competition; Axis is our newest project in this area. In this regard, now it is time to move to other markets in the local market.”

“The company will announce more details on these two projects in a timely manner, and we believe that the time is right to replicate our successful experience in other places with the same vocabulary, tools, and concepts of achievement, success, and excellence,” Mokhtar explained.

The ceremony was concluded by an exceptional performance of Lebanese megastar Wael Kfoury, who performed a series of his most beautiful songs with which the audience interacted with enthusiasm.

It is worth noting that Iwan has so far built seven residential compounds since its inception 15 years ago, on an area of ​​more than 886,000 square meters in Egypt, including Jira, Jawar, Atrium, Alma, and lastly Axis in 6th of October City. In addition, the company’s total sales amounted to EGP 4 bn in 2018.