Egypt- EGP 3bn investments for Ashgar City Project: IGI Sales & Marketing Director

Total investments for the Ashgar City project will be approximately EGP 3bn, with Ashgar Heights investments will be approximately EGP 700m according to Tarek Bahaa, IGI Real Estate's Sales & Marketing Director.

IGI is set to expand its existing projects in 2015, with the company planning to add new phases to Ashgar City and Ashgar Heights this year.

Ashgar City is a gated residential compound located in 6th of October City, covering an area of 148 acres, and is expected to reach a total of 4,300 apartments.

The Ashgar City project is to be developed over four phases, two of which have already been launched and completely sold, Bahaa said.

Regarding the delivery of the sold units, Bahaa indicated that the first phase's units will be handed to buyers in the second quarter (Q2) of the current fiscal year.

He added that a third phase will further be launched soon in 2015, consisting of apartments that range from 80m2 to 260m2.