Eng. Mohamed Saad: “IB Axis is a qualitative leap for Ibtekarr in commercial and administrative investment in New Cairo.”
In a new step reflecting its expansion strategy in the Egyptian real estate market, Ibtekarr for Real Estate Development announced the launch of its latest project “IB Axis” in the Gardena area of Fifth Settlement, marking the company’s third commercial and administrative project after the success of its previous two malls.
Eng. Mohamed Saad, Chairman of Ibtekarr for Real Estate Development, stated that the company began operations in 2003 and has delivered more than 100 diverse projects across New Cairo, El Shorouk, and Obour. He emphasized that investment opportunities in Fifth Settlement have been a key factor in the company’s success.
> “At Ibtekarr, we carefully study every location before launching a project. Our focus is always on choosing a prime site and presenting modern designs that meet client needs. Gardena was chosen because it enjoys a high population density exceeding 70%, making it an ideal environment for an integrated commercial and administrative project serving several key zones in the area,” he added.
Saad revealed that construction work is scheduled to start within four months, with carefully planned execution stages. He further noted that the company also plans to launch a medical mall soon, reinforcing its presence across residential, commercial, administrative, and medical sectors.
He highlighted that project partners include Incommercial (specialized in management and operations), architect Wael El Saman as design consultant, and Sedra as a technology partner.
Fatma Mohamed, Managing Director of Ibtekarr, stated that the company took on a major challenge years ago to enter the commercial, administrative, and medical projects market and has now successfully delivered its third project, IB Axis.
“The project will be fully commercial, and our top priority is always the client. The competitive edge of our projects comes from our designs, ensuring practical spaces for diverse needs and well-planned layouts that maximize usability for investors and end-users,” she added.
Mohamed El Shamy, CEO of the company, confirmed that IB Axis enjoys a strategic location on Mohamed Naguib Axis in Fifth Settlement, surrounded by a residential community of over 3,500 families, making it a prime investment opportunity.
The project spans 4,000 sqm of commercial and administrative space and includes specialized zones such as restaurants, cafes, and a dedicated technology area. Commercial units start at 30 sqm, with prices starting from EGP 4 million.
The project will be developed over three phases, with the first phase offering flexible payment plans of up to 8 years during the launch period. The total construction timeline is estimated at 3–4 years.
El Shamy also revealed that Ibtekarr already has a strong client base of more than 2,200 clients. He stressed that the project is being introduced for the first time in an area with high occupancy rates, giving investors a significant competitive edge.
Sales Directors Haitham Ali and Ahmed Ibrahim stated that the project’s sales target is EGP 1.5 billion, with exclusive launch offers including 10% discounts and an additional year on payment plans during the launch phase only. The company aims to sell 50% of total commercial units during this initial stage, benefiting from a robust client base both locally and internationally.
Ramadan Mehran, Marketing Director of the company, noted that the name “IB Axis” reflects its concept as a starting point and main hub for investment.
