Real Estate Domain (RED) leads Egypt’s first consortium, Red Collaboration, which includes the largest real estate companies that is considered a positive step within the strategic plan presented by the state to develop the real estate sector, Invest-Gate reports.

Khalid Bahig, Chairman and CEO of RED, states that cooperation with distinguished real estate marketing companies is formed according to specific criteria so that these companies follow RED.

He adds that the RED Collaboration alliance includes Upstate, Kayan, The Mediator, Nawah, Misr elakareya, and Landbank. Besides, three new agreements will be signed this month with other companies.

In the same context, Mohamed Banany, Managing Director of RED, explains that the alliance came to change the real estate map in Egypt, by joining the best real estate experiences in the real estate market, stressing that efficiency and credibility are the main principles and objectives of joining the alliance.

On the other hand, Amr Othman, Chief Executive Officer of Landbank real estate, stresses that this step is a positive reflection of the need to regulate the real estate market, and achieve the exchanging the various real estate experiences that include this alliance.

Pointing out that the alliance will raise the efficiency of the real estate market through the launch of the “Real Estate Marketing Academy RED” initiative, which is considered an operational license to real estate marketing activity.