Masharf Real Estate company has contracted with 30 developers to market and sell their projects in the New Administrative Capital, according to Mohamed Reda, head of sales at the company.
Reda added that the company plans to increase its projects portfolio of east Cairo and the New Capital.
Furthermore, Reda elaborated that the company targets to achieve sales of EGP 500m for developers during the coming year.
He noted that the company is focusing on marketing projects in the New Capital, the area which is witnessing great demand in the second quarter of 2018.
Moreover, the head of sales pointed out that the projects marketed by the company in the New Capital vary in services, spaces, and prices, ranging between EGP 7,000 and EGP 12,000 per sqm, and payment plans of up to 10 years, without a down-payment, in order to meet demands of a large segment of customers, especially those wishing to live and invest in the sector.
“Real estate projects in the New Administrative Capital represent a good opportunity for customers, especially in light of the support and the great focus of the state on speeding up the completion of the project in efficient way,” Reda explained. “In addition, the transfer of headquarters of ministries, government agencies, foreign embassies, banks, and other entities to the Capital will raise prices, as some projects currently exceed the price of a meter by EGP 20,000.”
The company’s portfolio of projects surpasses 80 projects, in cooperation with over 40 real estate developers, in various areas of the Egyptian real estate market. The company is seeking to include new projects in the coming period in East Cairo and the new capital, Reda noted.