The Address Real Estate Consultancy has arranged EGP 1.5bn worth contractual sales during the first quarter (1Q) of this year, despite the coronavirus fallout on all economic sectors, including real estate.
Chairperson of The Address Mostafa Badr said the company has put in place new marketing plans of its contracted projects in light of the current crisis, noting that the sales decline in March was followed by relative improvement in the second half of April.
Badr added that the company eyes achieving EGP 7bn in sales for real estate developers this year, expecting to complete 70% of target sales in 2Q.
He predicted that the real estate market would grow gradually after the Muslim’s holy month of Ramadan, especially after property has proven to be a safe investment destination during economic turmoil.
The Address has taken all preventive measures to maintain safety and health of its employees and customers during the ongoing pandemic. The company has also coordinated with real estate development companies to facilitate contracting procedures with clients in light of the current circumstances.