Arab Developers Holding achieves a record boom in its sales in H1 2022, Invest-Gate reports.
The company’s contractual sales hiked 138% to EGP 900 mn in H1 2022, compared to EGP 600 mn in H1 2021.
Ayman bin Khalifa, CEO of Arab Developers Holding, says that the company plans to achieve sales of more than EGP 2 bn in its projects and pump EGP 1.5 bn investments in 2022. The company is close to achieving this plan according to the results of its success in H1 2022.
Moreover, the company sold 227 units with a total area of 48,000 sqm in Q2 2022 compared to 116 units with a total area of 16,000 sqm in Q2 2021. The company also delivered 165 units with a total area of 31,000 sqm in Q2 2022 compared to 103 units with a total area of 24,000 sqm in Q2 2021.
Bin Khalifa confirms that the company recorded sales of EGP 581 mn in Q2 2022, with a growth rate of 165% compared to EGP 352 mn in Q2 2021. This, in turn, brings the total sales achieved in H1 2022 to EGP 896 mn, with a growth rate of 138% compared to EGP 650 mn in H1 2021.
Furthermore, the company offers its customers units that meet their needs. Besides, the company rolls out flexible payment systems that suit the customers’ purchasing power.
Bin Khalifa adds that the company’s projects portfolio includes 15 projects, with a total of 10,500 units sold and 7,500 units of them are delivered to customers. Also, the company has a total land portfolio of 5.2 mn sqm and these lands are characterized by locating in diverse areas.
Bin Khalifa also clarifies that the company aims to increase its achieved revenues to reach EGP 3.6 bn in 2023. The real estate developer also plans to achieve about EGP 4.1 bn in 2024 due to the continuous growth in the implementation and delivery of the projects and the real demand from customers for the company’s projects.