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Centro Real Estate to invest EGP 500m in projects over 2021 - Daily News Egypt

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Centro Real Estate to invest EGP 500m in projects over 2021

Company committed to delivering projects four months ahead of schedule, despite pandemic

Centro Real Estate aims to direct investments worth a total of EGP 500m into its projects during 2021, according to the company’s Chairperson Wael Ramadan.

Ramadan said that EGP 400m will be directed to the company’s New Cairo projects in 2021, compared to EGP 350m during the current year.

He disclosed that, at the beginning of 2021, the company plans to open its new branch in 6th of October, west Cairo. The branch will pump investments amounting to EGP100m into projects that will be introduced in 6th of October, Sheikh Zayed and the company’s northern expansion area.

Ramadan added that the company currently has 17 projects in its portfolio, located in the New Cairo districts of Lotus, Andalus, Beit AlWatan, North Rehab and New Narges.

He said that the company is looking to open a number of branches inside and outside Egypt. This includes a particular focus on Arab countries, according to studies carried out by the company which have identified the best opportunities for real estate investment.

Ramadan also said that the company is committed to deliver its projects four months before their scheduled dates. This comes despite challenges faced by the local market during the first half of this year, due to the novel coronavirus (COVID-19).

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