By Hamed Mahmoud
Contributing to the prosperity of the local real estate sector, IGI Real Estate, a leading real estate pioneer, and subsidiary of the International Holding Company for Financial Investments, was created in 1994 with the vision of providing uncompromised excellence and efficient luxury in real estate through its flagship projects “Gardenia Park” and “Hayy Al-Ashgar”. IGI Real Estate’s projects focus on enhancing the quality of life, whether they are fully integrated residential communities, or mixed-use developments which span the West and East side of Cairo.
As for its current developments, IGIRE’s projects include “Ashgar City” located in 6th of October City and offers various residential unit types ranging from ground-floor apartments with private gardens to rooftop terrace units and duplexes with payment plans up to 9 years. Ashgar City’s 4,300 units not only offer a variety of designs, but also a variety of sizes from 80 to 236 sqm with a total of 2,000 sold units which have either been delivered or are currently being executed. The project is strategically located amid an intersection of main roads such as Wahat Road, Ring Road, Dahshur Road and Fayoum Road, making it adjacent to major shopping malls and reputable universities, and assuring privacy and safety, while being close enough to everyday needs.
Moreover, IGIRE was able to set an exemplary model of real estate developments through “Oak Park”, also located in 6th of October City, offering units ranging from 167 to 235 sqm with a 10-year installment plan, and 3-year delivery. In situating Oak Park, IGIRE has mastered the intricate mix between being close to the hub of action and carving out a personal sanctuary.
As for the lately introduced phase of the renowned project “Hayy Al-Ashgar”, namely “Ashgar Residence” the project is planned as the last phase of “Hayy Al-Ashgar” with units ranging from 140 to 220 sqm. From its side, IGIRE has newly introduced an attractive installment plan that can be extended up to 10 years and has signed with one of the major contracting companies “LMS Construction” and ”Al-Ammar” as the project consultant with the aim to fully-complete the project within a four-year timeframe. The real estate developer targets the EGP 3.5 billion mark in the 600 units offered in its project’s “Oak Park” and “Ashgar Residence”.
As for its commercial projects, IGIRE is currently working hand in hand with major specialised consultancy firms with an ambitious goal to bring unique and unmatched designs and concepts that provide an unparalleled experience and service to the 100,000 sqm project that is to launch in 2022. The commercial project is located on Dahshour Extension offering a variety of experiences to different age groups whilst preserving the widespread landscape.
Despite the turbulence caused by the Covid-19 pandemic, IGI Real Estate has invested over LE150 million throughout 2020 and aims to double this number in 2021 to LE300 million to accelerate the construction works throughout its projects.
Cementing its footprint in the local real estate scene since 1994, IGIRE’s legacy can be witnessed throughout its various projects, with a total land bank exceeding 2.5 million sqm, that cater and appeal to clients’ different needs and budgets. This is evident through its 20,000 inhabitants in its current projects: Gardenia Park, Gardenia Park II, Gardenia Springs, Hayy Al-Ashgar, Ashgar Heights and Ashgar City.
IGIRE is a subsidiary of the mother company IGI Holding which was established in 1973. IGI is one of the leading private sector companies that has heavily contributed to various sectors including steel manufacturing, construction, petroleum, petrochemical and industrial sectors in addition to consumer goods trade, agricultural activities, food, cosmetics, electronics and communications.
