Wadi Degla Developments showcased its significant achievements for 2024 during its annual press conference, marking a milestone 20th anniversary. Over the past two decades, the company has become a key player in Egypt’s real estate market, delivering 12,000 units and welcoming 18,000 families into its communities, despite facing numerous industry challenges.
Raymond Ahdy, CEO of Wadi Degla Developments, highlighted the company’s enduring commitment to meeting the evolving needs of Egyptian families. “Our mission has always been to provide exceptional real estate solutions at international standards,” Ahdy stated. “In 2024, despite the significant rise in construction costs, we remained focused on delivering value to our clients.”
In response to financial pressures, the company made a bold move to increase its capital by 121%, raising it from EGP 520m to EGP 1.149bn. “This increase strengthens our financial capabilities, ensuring that we can continue to progress with our projects while mitigating delays,” Ahdy explained. The capital boost will also support the procurement of essential materials, enabling Wadi Degla to maintain a steady pace of construction across its developments.
As part of its strategic restructuring, Wadi Degla announced the separation of EgyConst, its former construction arm, into an independent entity. This move is aimed at enhancing operational flexibility, securing external contracts, and facilitating regional and international expansion. “By empowering EgyConst, we allow it to grow rapidly and diversify our revenue streams,” Ahdy noted.
Additionally, Wadi Degla integrated EgyPro FME, its facilities management subsidiary, into the group. With over two decades of experience, EgyPro FME manages more than 3.5 million square meters and 700 buildings across 21 Egyptian governorates. This expansion positions Wadi Degla as a leading player in Egypt’s rapidly growing facilities management sector, valued at $2.12bn in 2023, with projections to grow at an annual rate of 6.7% to $4.05bn by 2032.
In 2024, Wadi Degla achieved over EGP 5bn in sales, with EGP 3bn generated in the first half of the year alone. The company delivered approximately 1,500 units across its residential projects in East Cairo and resorts in Ain Sokhna, including over 500 units in the first half of the year. With an investment of EGP 2bn in construction, Wadi Degla remains on track to meet its targets, aiming to deliver another 1,500 units in 2025 and generate EGP 10bn in sales.
Looking ahead, Wadi Degla is actively exploring new real estate investment opportunities both locally and internationally. As part of its strategy, the company added 60 feddans to its Murano project in Ain Sokhna, with an investment of over EGP 5bn. Wadi Degla also plans to maintain foreign resident sales at 20% annually, contributing to the national economy by maximizing real estate exports and conserving foreign currency.
Furthermore, the company is expanding its reach into Middle Eastern and African markets, with plans to introduce its innovative ‘Club Town’ concept. A partnership with a Saudi developer is already underway, with projects in the Kingdom progressing steadily. Additional details are expected to be announced in the coming months.
Wadi Degla Developments continues to solidify its position as a leader in the real estate sector, driven by a commitment to excellence and an unwavering focus on growth.
