RE/MAX Al Mohager, a real estate broker, aims to achieve EGP 2.2bn contractual sales in commercial and administrative projects for developers this year, said the franchise owner Mohammad Degheady.
The company’s non-residential portfolio consists of 76 commercial, administrative, medical, and industrial establishments in Cairo, Giza, Alexandria, Matrouh, Suez, and the Red Sea governorates.
The company’s targeted sales in 2020 as follows: EGP 1.2bn for commercial and administrative properties, EGP 300m for medical units, EGP 400m for industrial units, and EGP 350m from auctions sector, Degheady elaborated.
“Our expansion plan includes allocating EGP 16m to improve the company’s customer service, providing technical training for the company’s employees, and launching an integrated real estate platform for marketing services,” he added.
The number of commercial projects in Egypt is low compared to residential ones, however, the distinguished commercial establishments, in terms of location, specifications, and management, will witness a significant increase this year, being the most secure investment, Degheady expected. He added that price spikes of commercial units would reach 16% this year.