Arab Developers Holding Records 229% Profit Hike in 2021

Arab Developers Holding Records 229% Profit Hike in 2021

Arab Developers Holding announces strong business results and a boost in performance in 2021, based on the company’s plan to restructure and implement its new strategy that focuses on increasing construction rates and delivery of its projects, Invest-Gate reports.

“The new management of the company succeeded in improving its financial position and achieving a great leap in profits in 2021, with a growth rate of 229%,” Gamal Fathallah, Chairperson of Arab Developers Holding, states.

Fathallah adds that the company achieved profits worth EGP 92.86 mn by the end of 2021, compared to EGP 28.24 mn in 2020. The cost of revenues increased during the same period to EGP 763.5 mn, compared to EGP 618.955m in 2020.

Moreover, the company continues to implement its ambitious plan this year, as it aims to achieve sales of EGP 2bn in 2022. With the continuation of introducing new phases for its existing projects and providing flexible payment plans to suit the purchasing power of its customers, in addition to the real and ongoing demand for properties.

For his part, Ayman Bin Khalifa, CEO of Arab Developers Holding, says that the company succeeded in delivering approximately 1,500 units for the first time in its history since the new administration took over besides plan to deliver 2,000 new units by the end of 2022.

“Our policy is to focus on client’s needs, and rights and to commit to specific construction and delivery timetables,” Bin Khalifa comments.


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