Real estate giant Arab Developers Holding has accomplished unprecedented sales and profits in the third quarter, cementing its position as an industry leader, Invest-Gate reports.

The Cairo-listed firm said third-quarter sales soared 272% year-on-year (YoY) from a year earlier to a historic EGP 1.355 bn.

Net profit rocketed 984% YoY to EGP 36 mn, the biggest percentage gain among local peers.

Through September, cumulative sales hit EGP 3.818 bn for 274% YoY growth. Net revenue increased 126% YoY to EGP 872 mn over the period.

CEO Ayman Bin Khalifa credited the stellar results to intensifying investment in existing projects and capitalizing on strong demand. The company sold 532 units totaling 54,700 sqm in the third quarter.

While unit deliveries fell to 72 buildings encompassing 7,700 sqm versus the prior year, focus on quality lifted net revenue 84% YoY to EGP 185 mn. Total profit rose 161% YoY to EGP 105 mn.

Bin Khalifa said a comprehensive two-pronged strategy of expediting construction and catering to various buyers with flexible payment plans fueled the success.

Investors have also rewarded Arab Developers, with its stock price soaring 122% on the EGX since January. The company distributed one bonus share for every 10 existing shares in August.

Issued capital now stands at EGP 772.4 mn divided among 1.3 billion shares. Total ownership equity reached EGP 1.3 bn on 30 September.

The stellar earnings underscore Arab Developers’ drive to maximize assets across residential, commercial, and hotel properties. Its robust foundation positions it well for ongoing growth in Egypt’s vibrant property sector.