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| 08 March, 2018

Iwan Developments Celebrates Its 15th  Anniversary and Reveals an Aggressive Investment Plan for the Local Market

Ambitious plans for 2018 with total sales target of EGP 4 billion

Iwan Developments Celebrates Its 15thnbsp; Anniversary and Reveals an Aggressive Investment Plan for the Local Market

Cairo, Egypt: - Iwan Developments, a subsidiary of Iwan Group, held a press conference today in celebration of its 15th anniversary, revealing the details of its investment plans for 2018 highlighting its efforts to help address real estate demand in the local market. The press conference was attended by Eng./Walid Mokhtar, CEO of Iwan Group, Mostafa Salah, Chief Commercial Officer, Iwan Developments, as well as the executive team and Egyptian media.          

Iwan Developments is a subsidiary of Iwan Group, which operates in different areas including project development and management, architectural designs and consultancy. The company’s main theme is “developing feel good neighborhoods”, which stands for delivering genuine value, and innovative integrated real estate communities.

“Today we celebrate 15 years of achievements, achieving outstanding milestones, projects and objectives that make us very proud," said Eng. Walid Mokhtar, CEO of Iwan Developments. "Our business model enables us to introduce comprehensive and sustainable urban communities with high occupancy rates of more than 75% across our delivered projects, emphasizing the fact that we're catering to real customer demands, be it for residential or commercial purposes." 

Mokhtar continued, "Our total investment in 2017 was EGP one billion, while sales reached EGP 2 billion. In 2018, we aim to expand our investments to a total of EGP 2 billion and double our sales to reach EGP 4 billion. These figures reflect our aspiration to achieve an intense expansion plan, by doubling our business volume as a leading player within the Egyptian real estate sector."                

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Iwan Developments' project portfolio comprises 7 residential projects and 10 commercial projects. The projects enjoy a high occupancy rate of 75%. The company aims to apply an aggressive plan to achieve a 100% business growth rate in 2018.

During the press gathering, the company revealed more details about its strategy in the local market, as it aspires to be one of Egypt's top three real estate developers in the coming five years. Iwan Developments will announce soon the details on its latest project at Cairo-Alex Desert Road, in addition to new expansion in East Cairo and resort destinations.     

Mokhtar also highlighted the company’s project portfolio, including Jeera, a residential project comprising villas, townhouses and twin houses, alongside a club house and commercial spaces to cater to residents' needs. The project enjoys a modern and luxurious design, as construction and finishing were completed with unique building materials. It was delivered in 2013         

Other projects include Jewar, an extension of Jeera. The projects include residential apartments with many designs to cater to different needs, in addition to promenades, a swimming pool, kids’ areas and commercial spaces. It was delivered in 2013.      

6th of October's Jedar is another project in the Iwan Development portfolio and deliveries have already started this year, 4 months prior to its contractual delivery date, which is a remarkable feat on its own, stemming from IWAN’s staunch commitment to its customers, which are the heart of IWAN’s business.

As well as, Atrio compound in Sheikh Zayed, and Alma compound which is inspired by the Art Deco style.   

Iwan Developments has achieved many successes stemming from its customer-centric approach, which represents a key pillar for its strategy. The company's activities, business model and achievements revolve around this key approach.            

"Last year witnessed major milestones in our journey in the local market. Not only did we deliver units to our valued customers on time, but we also delivered a number of units to our customers prior to the contractual delivery date.  It was only possible to do so, thanks to the vertical integration of our day-to-day operations and our vast experience and our professional teams and arms,” explained Mokhtar. “As a member of Iwan Group, we have a pool of professionals and vast expertise in developing integrated projects, from master plans to architecture designs, and from construction to project management and after-sale services. This holistic approach was a key success factor."                 

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Media inquiries, please contact:

Hussein Helmy- TRACCS Egypt

14 Thawra St. – Floor 9 | Dokki, Giza, Egypt

Tel: +202 3748 5254- +202 3748 5257

E-mail:  Hussein.helmy@traccs.net   

© Press Release 2018