New Cairo Developers Association has obtained the lion’s share of the last lands that were offered by the Administrative Capital For Urban Development (ACUD), Invest-Gate reports.
The New Administrative Capital (NAC) has been transformed within a few years for the best investment for various businessmen and investors in Egypt and GCC. Mohamed Al Bostany, head of the New Cairo and NAC Developers Association, states that there is a large number of members of the New Cairo Developers Association, who have obtained lands in NAC, especially the lands designated for towers, pointing out that the recent period has witnessed the launching of several projects by members of the association in NAC.
Additionally, he expects that NAC’s prices will witness a significant increase of up to 30% in Q1 2022, especially after the start of the government’s move to NAC.
He further confirms that Q1 2022 will witness a revival in the real estate sector sales due to the high demand.
Such demand owes to several basic factors, including:
- Receding of the third wave of Covid-19 especially after the increase in vaccination rates.
- The return of the activity of real estate exhibitions.
- The season of the return of Egyptians abroad for vacation, in which they consider an opportunity to find a safe haven for their savings.
Furthermore, he points out that the construction sector will continue to play the most role in growth rates, as it accounts for more than 17% of Egypt’s GDP, providing more than three million job opportunities. This sector also supports operating more than 95 professions and industries related to the sector.
Moreover, he remarks that there is a number of vital areas and new cities that are considered a real opportunity for investment, but the NAC remains the most attractive one.
He further highlights that NAC accounts for more than 50% of the sector’s sales during the current year, coinciding with the near preparation for the opening of the Government District and the start of the delivery of the first phase projects.
Additionally, he explains that customers now have an investment vision, given the availability of information, easy access to the company’s evaluation, and the ability to evaluate the real investment value of the unit before purchasing. “This will have a strong benefit, which is filtering the market from companies that are not committed,” he stresses.