Pioneers Properties has launched the first phase of its ambitious IVOIRE East development in New Cairo, spanning 438,000 square meters with an estimated investment of EGP 22 billion. The project aims to house over 1,000 families and generate EGP 45 billion in contracted sales. Strategically located near the American University, it features luxury villas, duplexes, and commercial spaces, while creating thousands of jobs. Year-to-date, the company has achieved EGP 8.4 billion in contracted sales across Cairo’s prime areas. CEO Walid Zaki highlighted the project’s role in expanding Pioneers’ land portfolio to 12 million square meters. The firm reported a 49% surge in net profit for 9M 2023, reaching EGP 238.35 million.