AGEC Developments announced the launch of IVY Residence project in El Shorouk City, with a total investment of about EGP 800m, in a press conference in the presence of company's officials, journalists and media professionals.

Ayman Rafla, Chairman AGEC Developments said that the project is located in a privileged location in Shorouk City, directly on Suez Road, opposite Madinaty Gate. In addition, the project includes 320 apartments and 70 villas with  various sizes.  Rafla added that the project construction rate is strong.

Rafla noted that the IVY Residence compound was designed by two of the largest consulting offices, where Yasser Al Beltagy Architects (YBA) developed the master plan of the project, and  GPS office developed interior design of the project, both of which are distinguished offices that have a strong precedent and experience within local market and outside Egypt.

He added that it is planned to deliver the entire project within 3 years, and the delivery of buildings and villas in the project will begin within 15 months, and a comparison is underway between project management companies to choose a strong and distinguished company responsible for managing the project, in order to maintain its investment value and maintain clients' investments in the project.

He revealed that the company has contracted with Suez Canal Bank to finance clients of the IVY Residence project, so that mortgage financing is provided to project clients through the bank, as part of the company's plan to provide financing to clients, in addition to the state's plan to bridge the gap between selling prices and clients' purchasing power.

He pointed out that AGEC Developments has more than twenty years of experience in field of real estate development, especially in Heliopolis and Sheraton Heliopolis.

The company has established many residential, administrative and commercial projects, he noted, added that the company plans to expand in the coming period in various projects that the company owns its own lands.