The Address for Real Estate Consultancy purposes achieved sales worth EGP 3bn for developers this year, according to Amr Badr, chairperson of the company.
Badr said that the company has achieved EGP1.4bn in sales for developers by the end of last year.
Furthermore, Badr added that the company markets 20 diversified projects to real estate companies in the New Administrative Capital (NAC) and that The Address is currently negotiating the marketing of new projects in different areas.
The NAC topped the scene during the past year in terms of customer’s demand rates, Badr noted, as the NAC’s projects accounted for about 25% of the company’s sales in 2018.
The total projects that the company is marketing is 65 for developers spread over more than 100 projects located in different residential areas namely the NAC, New Cairo, Mostakbal City, and the North Coast, he disclosed.
The chairperson explained that the launch of a package of cities and new urban communities contributed to diversifying investment opportunities for developers, which in return led to an increase in the volume of offered projects in the market last year.
The North Coast remains the first destination for second home seekers with the strong offerings in Ain Sokhna during the recent period along with the volume of development that takes place in the Galala Plateau region which draws many customers to live in as a first home because it is close to the NAC, he added.
Badr pointed out that the west Cairo area will witness a strong demand for housing and investment in the coming period due to the implementation of a number of megaprojects, in partnership between developers and New Urban Communities Authority, in addition to the great development being carried out. Moreover, the state plans to turn west Cairo into a touristic capital for Egypt with the inauguration of the Grand Egyptian Museum, and new cities such as the New Sphinx, among others.
