With EGP 5 Billion, IGI Developments & Kulture Developments Collaborate to Provide a New Project

 Building on their successful partnership, IGI Developments and Kulture Developments have announced a new phase in their collaboration. The two companies have signed an agreement to develop a mixed-use project, including commercial and administrative spaces, with a total investment of EGP 5 billion. The project has a prime location at West Cairo region, overlooking Waslet Dahshour in 6th of October City.

The agreement has been signed by Eng. Sherif Moustafa, CEO and Managing Director of IGI Developments, and Mr. Mohamed Abdelhamid, CEO of Kulture Developments, with the presence of Mr. Khaled Sheta, Chairman of IGI Developments, and Eng. Ahmad Mohamed Alaawad, Chairman of Kulture Developments and the members of the board for both entities at the headquarters of Kulture Developments

The project is located at a premier location near to all vital facilities and services, including Commercial, Administrative, and Medical units with a wide range of spaces. The project has an integrated group of amenities, the construction works is planned to start in November 2026 and the official operation in the 3rd quarter of 2029.

As a part of a comprehensive joint development agreement, this strategic partnership was shaped and supported by the vision and experience of the two parties as leaders in the real estate development industry in Egypt. The agreement aims to change these strategic assets into sustainable and vital hubs in their society, where include the development of two mixed-used projects in distinguished directions, merging Commercial, Administrative, and Medical units in the same place. To ensure the smooth progress of the two new projects and their implementation and delivery according to the specified timelines, both IGI Developments and Kulture Developments were keen to cooperate with a major Egyptian banking entity, Suez Canal Bank, by providing integrated guarantee (escrow) solutions.

In this context, Eng. Sherif Moustafa, CEO and Managing Director of IGI Developments, confirmed the importance of this partnership amid the significant transformation witnessed by the Egyptian real estate market towards cooperation and strategic partnerships among real estate developers to establish integrated and sustainable projects. Sherif Stated: “We are pleased with our collaboration with a pioneering entity like Kulture Developments, which has an innovative and creative approach and vision for real estate developments. We strive to provide a role model for strengthen partnership, gathering experience, innovation, and real support from The Suez Canal Bank, the well-known financial entity, that supports the real estate development sector through its distinct financial services, to provide integrated real estate projects that reflect the partnership concept based on the integration in all its aspects. We will work together to deliver a real estate product that matches the strong competition in the real estate market and provides all investors in the project with guaranteed investment returns over the years."

On the other side, Mr. Mohamed Abdelhamid, CEO of Kulture Developments, assured the significance of this milestone, in light of the two parties’ eagerness to expand their business portfolio and develop varied projects to meet the needs of the Egyptian market, declaring: “The strategic collaboration with a grand entity such as IGI Developments is an important step in our company’s journey. It is a genuine representation for Kulture Developments’ vision and strategy, as one of the expert real estate companies that develops a flagship commercial and administrative project, toward the selective growth by cooperation with the best entities in the field. We will do our best to present an innovative concept for mixed-used projects, where provide a comprehensive model for working environment, ensures all beneficiaries the highest levels of comfort, stability, and the ability to grow and prosper, especially since this project is our first step in the promising West October region, which has witnessed significant activity recently, characterized by a blend of historical heritage and modern urban development."

The collaboration between IGI Developments and Kulture Developments took its first steps with “Patterns” project in the heart of New Cairo's 5th Settlement, on one of the most important main axes in the Golden Triangle area. The project includes various units (offices, clinics, commercial units) and features a diverse range of services and international brands. The project is planned to begin delivery within 3 years.

These projects were designed to achieve a dual objective: to offer attractive investment opportunities and to provide an unprecedented level of comfort and services to end-users. They will serve as main hubs catering to the daily needs of the surrounding residential communities, through master plans and designs with international specifications that combine modern design with full and optimal utilization of spaces. These plans were developed by Raef Fahmi Architects, one of the leading and well-known engineering entities that has delivered a collection of the best real estate projects in Egypt and the Arab world.

IGI Developments and Kulture Developments operate with teams comprising some of the professional cadres who possess strong experience in developing and marketing mixed-use projects. Both companies have a proven track record of success in developing commercial and administrative projects, which require significant skills and a complete understanding of the needs and requirements of target clients.