IWAN Developments announced the launch of two new projects this year in both New Cairo and Ain Sokhna after the lands were allocated to the company in these two regions in February 2019, according to CEO of the company Waleed Mokhtar.
During a sohour on Wednesday, Mokhtar said that the company has achieved EGP 4bn in sales during 2018, driven by the launch of new phases in the existing company projects, and the activity of the market during the past year.
Mokhtar noted that the company has successfully implemented seven integrated residential projects since its presence in the market 15 years ago on a total area of 886,000 sqm, most notably Jeera, Jewar, and Atrio in addition to the latest projects dubbed Axis.
“IWAN has been able to consolidate its market position in the Sixth of October City and Sheikh Zayed, and the time is right to replicate our pioneering development experience,” he pointed out.
In July 2018, the company acquired two plots of land, in partnership with the New Urban Communities Authority. The first was an extension to Sheikh Zayed, in the Sixth of October City on 1,000 feddan, and the second was on 104 feddan in the Fifth Settlement, New Cairo City.