Ehab Abul-Hadid, CEO of EGICS Development, notes that 50% of the sales of its Haven Tower project in the New Administrative Capital have been completed, Invest-Gate reports.

He adds that the company was adhering to a careful selling plan for all units of its project.

Abu-Hadid states that EGICS is currently studying many projects in preparation for injecting new investments into the real estate market.

He reveals that the projects under consideration include residential and mixed-use projects, as well as agricultural and industrial projects.

The top executive highlights that the market is in a state of anticipation due to the continuous increase in the prices of building materials, which rendered some developers unable to set the prices of units correctly.

He expects the state of uncertainty in the market conditions to continue for a short period before stabilizing the market.