Ivory Real Estate Investments Company has signed a contract with The Egyptian Company for Energy & Cooling Projects “Gascool”, affiliated to the Ministry of Petroleum, to establish a central chiller plant, with an investment cost amounts to EGP 12.5 million.
The plant will be operated with natural gas, with a capacity of 720 refrigeration tons per hour, to feed the Ivory Business Park project.
This comes within the framework of the company’s efforts to diversify the energy sources used in the project.
Sahar El-Agaty, Chairman of the Board of Directors of Ivory Investments, said that Gas Cool will be tasked with finishing design, supplies and the initial and final delivery of all works related to the chiller plant as well as its management, in accordance with the technical requirements. She added that the plant will be completed within 8 months.
She indicated that the company achieved high sales rate, estimated at EGP 300 million in the units of the first and second phases of the “Ivory Business Park” project located in Sheikh Zayed City.
The project spans over17,000 sqm and comprises seven buildings, four of them are commercial with total area of 5,000 sqm with unit spaces range between 80-900 sqm, he highlighted, noting that sold units’ total area is 4,000 sqm of the project and the rest will be leased.
She added that the total investments in the Ivory Business Park, which contains 100 units and is located in Allegria, SODIC’s development in SODIC West, range between EGP 450m and EGP 500m.
The project spans over17,000 sqm and comprises seven buildings, four of which are commercial with a total area of 5,000 sqm. Unit spaces range between 80 sqm to 900 sqm, Sahar noted.
She added that units allocated for sale totaled 4,000 sqm of the project, of which 2,000 sqm has been sold, with the rest to be leased.
Translated by Hassanain Tayea