Royal Developments plans to deliver about 80 diverse residential units in New Cairo during 2020. The company has already delivered 40 units so far in the first five months of 2020, according to Chairperson Sherif Shaalan.
Shaalan said that the company offers flexible payment plans that fit a large segment of local customers, with the down-payment starting from EGP 50,000, and instalments of up to seven years. The units come in different areas, with an average area of 106 sqm
He added that the company intends to deliver six buildings this year in New Cairo, comprising 50 residential units.
Meanwhile, Royal Developments CEO Karim Shaalan said that Egypt’s real estate market has experienced a slowdown in sales due to the novel coronavirus (COVID-19) outbreak. However, the flexibility of real estate companies in dealing with the crisis help them survive.
Shaalan explained that the government’s continued implementation of its national projects, whilst taking precautionary measures, encouraged many developers to resume work while preserving their workers’ health and safety.
He stressed that the company has a strong expansion strategy during the coming period, taking into account the market changes after COVID-19, which will affect the local purchasing power and their priorities. This includes providing new payment plans that cope with these changes.