Following his profound years and leadership serving the real estate sector at Coldwell Banker Egypt, RED Chairman & CEO Khalid Bahig gives Invest-Gate an insight on his next business endeavor, the new property consultancy and brokerage firm called Real Estate Domain (RED) in Egypt, taking the real estate market to the next level based on research and market.
RED incorporates information technology in ways this market has never seen before. Technology has become an important facet and we are leveraging it. Bahig also shares his vision for 2021 ahead of their participation at The Real Gate exhibition end of March. “Customers are always seeking to obtain credible data, and their approach to buying is changing in turn. In response, we created this new business model, based on the customer’s desire for more credible information,” Bahig comments.
Taking very bold and ambitious, RED enjoys remarkable industry experts, as well as all necessary advanced technological methods. “We are aiming to achieve a shift in the quality and variety of offerings in the real estate marketing realm as a whole. Since we launched, our target has been to be the biggest real estate marketing company in the market,” Bahig says.
RED expects 15% growth from behalf of the developers throughout 2021. According to Bahig, this is obviously witness with their current behavior and the number of anticipated new launches..
RED’s internal infrastructure focuses on automation and research, “which is our primary pillar,” Bahig explains. It is a sturdy approach to modern digital marketing that will help us reach different demographics. “Teamed with our acumen and expertise, we are now equipped to be robust enough to speak the language that all our target customers speak and take them on a pleasant journey with the information and insights they are seeking.”
Advising homebuyers, Bahig sees a definite demand, as well as, bountiful investment opportunities in areas such as New Cairo, Mostakbal and Sheikh Zayed. However, “the biggest opportunities lie in large government funded development, such as the New Administrative Capital, New Alamein, and Galala City. These areas could be more attractive for the common investor. But other options are still there, and with promising opportunities. It depends largely on the customer and their objectives, but opportunities are abundant,” he advises.
The RED’s Chairman & CEO predicts that 2021 will definitely be better than 2020. Global conditions are winding down and “I expect 2021 to usher in a gradual process of reestablishment in terms of the economic situation,” Bahig concludes. Given the recent curve in terms of demand and appetite for real estate, things are looking up. There may have been a slowdown at first, but it’s picking up rapidly. This can be attributed to factors the likes of increased savings during lockdown, thus building delayed purchasing power.