Buy an apartment and win a trip to the Asian country: this was the slogan adopted by some real estate companies to promote its housing units and projects during the recession of the real estate market in Egypt.
Some of small- and medium-sized real estate companies tended towards providing gifts to motivate the client to buy their units.
For each sold apartment, the company offers a free trip for four to Lebanon, Dubai, Bangkok and Malaysia, according to sales and marketing manager in Azmeel Group Real Estate Mostafa Saeed.
Saeed said that every company has an expected and a possible profit target for itself during the year, and in order to reach it, the company tries to achieve the largest possible earnings through advertising and marketing. He added that method of marketing varies according to what every company requires.
“Competitiveness between real estate companies is very high, especially since the housing unit prices are very limited to the same range, and companies cannot compete on unit prices because the price is determined by the area in which the unit is located,” Saeed continued.
He confirmed that companies compete to maximise their earnings and profits, whether through the designs for the units and the optimal use of land, or providing offers for customers to encourage them to buy the units, given the presence of a large number of real estate companies in the same area.
“A housing unit is estimated at EGP 450,000+, and the gift of a free flight is equal to the dream of your life,” said Saeed.” Customer satisfaction is our mission; if the client enjoys our offer, he will tell others, and we consider this kind of marketing to be more effective than TV or newspaper advertising, which may not achieve the desired profit”.
He went on to say that the company does not only offer flights; it has provided previous offers for cars and gold gifts for clients who bought units from their company during the month of August.
Meanwhile, sales and marketing director of Amco Holding (Advanced Techniques for Real Estate Development Company) Wael Al-Gohary said that the company does not provide such offers as flights, gold, or cars, because they are not effective in the real estate market.
Al-Goghary added that each customer is only interested in the location of the unit, and the compound, the payment method, payment facilities provided, and the duration of instalments.
He said that the popularity of Amco Holding compounds is now focused on the new cities, and the company receives demand in certain areas, such as the Egypt-Ismailia road and the Egypt-Suez road, with an average price of EGP 500,000.
He further revealed that the real estate market recession sometimes affects the company’s targeted sales.
“The company has compound projects in Cairo, Alexandria and Hurghada and the North Coast, and carried out a number of projects, such as Moon City in Cairo, and Raya and Cordoba cities in 6th of October City,” said Al-Gohary. “The company has worked in the real estate sector for 20 years, and has offices in Egypt, Kuwait, Saudi Arabia and the UAE,” he continued.
Moreover, sales manager of Edara Real Estate Development Company Muhammad Al-Gendy said that the company will offer discounts and facilities in the units provided in mid-January.
He added the company does not provide gifts, as the company does not have a budget for these gifts, but ensures excellent service in the units it offers.
Zoom in Expo Company Chairman Ibrahim El-Shawarby said that the Cairo International Exhibition witnessed a remarkable turnout from clients hoping to get affordable housing units.
He added that most of the exhibiting companies provide new and diverse offers. There are those who offered discounts of up to 30% of the unit price, as well as providing instant gifts, including cars, household equipment, tours, gold and finishing units.