Egypt’s developer Al Ahly Sabbour Developments targets EGP 6 bn in sales of its projects in the current year, compared to EGP 5.5bn in 2018, Invest-Gate reports.

Ahmed Sabbour, CEO of Al Ahly Sabbour, told Invest-Gate the company plans to pump EGP 3 bn worth of investments in the construction works of its projects in 2019. The developer’s land bank reaches 5 mn square meters and it seeks to raise it to 6 mn square meters until mid-2020, he added.

Sabbour further revealed that the company plans to open new offices in Saudi Arabia and Kuwait, as well as, Europe.

Commenting on the real estate projects in New Administrative Capital (NAC), the CEO disclosed that the company did not penetrate the NAC as a developer yet, however, it did through Sabbour Consulting, which is designing and supervising the implementation of five land plots obtained by major developers, in addition to one of the six universities being implemented in the new city.

Meanwhile, Sabbour noted, “The company is considering the available lands in NAC to choose, to be developed whether through a partnership or full ownership.”

“The cities of 6th of October, Sheikh Zayed, and NAC, along with New Alamein, Ain Sokhna, and Upper Egypt governorates are on the company’s priorities list,” Sabbour revealed.