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Elite completes EGP 300m sales for developers in 2018 - Daily News Egypt

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Elite completes EGP 300m sales for developers in 2018

Expected increase in demand for commercial, administrative units in 2019, says Eltabakh

Elite Real Estate Consultancy has achieved EGP 300m in sales to developers in 2018, and aims to expand the marketing of administrative and commercial projects, according to Chairperson Walaa Eltabakh.

Eltabakh said that the projects that the company marketed were concentrated in the east Cairo area, especially the cities of New Cairo and New Administrative Capital, as well as projects in Ain Sokhna and the North Coast.

Additionally, the company’s chairperson added that Elite Real Estate Consultancy’s project portfolio includes 80 projects for about 40 developers in a variety of activities, and the Administrative Capital has secured about 10 projects from this portfolio, and another 10 in Ain Sokhna, while the rest of the projects are distributed in various Egyptian cities.

Eltabakh noted that the company is focused during the coming period on administrative and commercial projects, which represents a good opportunity for customers, especially those wishing to invest, along with the high demand on these projects, and the shortage in supply of these types of units, unlike the manifold supply of housing units.

In October 2018, the company launched a new branch in Mansoura City, Dakahlia governorate.

The prices are expected to increase by 5-15% in 2019, in the thick of the expected increase in building materials, as the state moves towards completing its plan to cut oil subsidies, in addition to companies’ plans for annual increases, but this measure may cause a relative lag in sales.

He expected an increase in sales of real estate projects in new cities such as the New Administrative Capital, New Alamein, and New Damietta.

However, he elaborated that cities in Upper Egypt need more promotion and marketing similar to successful cities such as New Alamein.

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