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Egypt’s property sector unhurt despite COVID-19 related sales slowdown - Daily News Egypt

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Egypt’s property sector unhurt despite COVID-19 related sales slowdown

Online transactions boost El Attal’s sales during pandemic, says CEO

Egypt’s real estate sector remains unhurt despite the sales slowdown over the past three months due to the coronavirus (COVID-19) outbreak, according to El Attal Holding CEO Mohamed El Attal.

During a webinar on Sunday, El Attal said the company was able to overcome the recent sales decline by adopting various marketing plans from the beginning of the pandemic to stimulate business.

The company has been in continuous communication with its customers through digital channels. It has also continued to sell its new units online, whilst at the same time providing distinctive online offers and discounts.

El Attal noted that the coronavirus crisis has affected the national economy in general, but that the real estate sector will come out of the emergency period more powerful and profitable, as one of the safest havens in times of crisis.

He pointed out that purchasing transactions during such hardships is the best opportunity for those who seek a real investment.

El Attal noted that construction works in the Park Lane project located at the New Administrative Capital (NAC) were not affected by the coronavirus. He added that the company would honour its time-bound commitments to its clients and the Administrative Capital for Urban Development (ACUD), the NAC’s master developer.

El Attal stressed that his company has taken all precautionary and preventive measures at its construction sites to preserve the health and safety of the company’s workers.

“The company provides its clients who are also healthcare workers with special offers and discounts of up to 20%, in addition to other distinguished offers in the Park Lane project,” he said, “The company also presents 8-year payment plan with 8% down-payment and equal instalments.”

El Attal noted that the construction rate at Park Lane’s first phase has reached 15%, while the sales have recorded 80% since the beginning of 2020. He added that this is satisfactory under the current conditions.

He further added that the company is committed to its contracts with the ACUD in terms of land instalments payment, and has not requested any payment delays even under the current circumstances.

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