The Jebal Real Estate Development Company has expanded its New Cairo operations through the acquisition of Al Mostakbal Real Estate Company shares, according to Jebal Developments Chairperson Ahmed Aletr.
The acquisition will formalise Jebal Developments goal of expanding significantly and achieving an enhanced presence in New Cairo’s real estate market, through Al Mostakbal 15 projects in the area.
Aletr noted that the acquisition follows the company’s successful and innovative approach to presenting real estate products.
He explained that the novel coronavirus (COVID-19) crisis has had a significant impact on the real estate market this year.
However, the company’s management has overcome the general economic slowdown through innovative ideas and solutions that provide both security and safety for customers interested in investing in the real estate market.
Aletr stressed that Egypt’s real estate market currently stands as a golden horse for investments, especially with the state’s keenness to expand urban areas. This has taken place through the development of new cities, such as the New Administrative Capital (NAC), New Alamein and New Mansoura, which include other economic investment opportunities.