The story began in 1942 when Mr. Abdel Mohsen Sheta masterminded building a large textile factory in Cairo, which was followed by a second factory after the company was joined by second generation family members, Mr. Mohamed Sheta and Mr. Helal Sheta. The Sheta family continued to manage the factories after nationalization in 1963 during Gamal Abdel Nasser's presidency.
Horizons widened in 1965 when Mr. Abdel Mohsen Sheta established an import/export company with strong links to the then USSR. Diversification was the key and by 1973 foundations of the IGI Group were laid with two more companies, Parfico and Income.
Diversification has continued to be a driving force in the evolution of IGI Group and was spearheaded by grandsons Mr. Hesham Sheta and Mr. Khaled Mohamed Sheta, who joined IGI in 1989 and 1990 respectively and are responsible for the management and development of a separate set of the group’s companies. Mr. Hesham Sheta acts as chairman of Income and Paradise Park, while Mr. Khaled Sheta is chairman of Ginza, Vantage and IGI Real Estate. Both have benefitted from being guided by Mr. Mohamed Abdel Mohsen Sheta's experience from 50 years in the commercial world. Mr. Hesham Sheta and Mr. Khaled Sheta each have three young entrepreneur sons, several of whom have already graduated from USA universities and will carry the IGI legacy into the fourth generation.