Egypt’s IGI Developments allocates $32mln for construction work in 2023

Egypt's IGI Developments expects to spend one billion Egyptian pounds ($32 million) on construction works in 2023, the company's managing director said.

Sherif Mostafa told Zawya Projects that the company delivered 1,000 units in 2022 and intends double that in 2023.

He said IGI Developments is working with several contractors on its projects, including IBS for certain phases of the Ashgar City project; LMS, a Landmark Sabbour group company, for Ashgar District's 'Jada' phase launched last year; GDG, which is building the infrastructure for the Jada phase and the Ashjar Heights project, and Masar, which is implementing landscape work for all IGI Developments' projects.

Mostafa said the company recently launched new apartment units in the Ashgar Heights project, ranging from 50 square metres (sqm) to 200 sqm.

Asghar City and Ashjar Heights are both located in Sixth of October City.

He said the developer's design, engineering consultancy, and project management contractors for its residential projects include Pinnacle-TBH, OKOPLAN, EHAF, and Al-Amar. For non-residential projects, it is currently working with EMDAD and Distance.