Dr. Abdel Aziz El-Ganzouri, Founder and Chairman of Crest Development, has confirmed that the company will be undertaking two commercial and administrative projects in 2024, Invest-Gate reports.

The company aims to achieve sales rates ranging from EGP 1.2 bn to EGP 1.3 bn within a year.

Dr. El-Ganzouri noted that Crest Development has been involved in contracting and real estate development for nearly 10 years, starting in 2013. During this time, the company has successfully completed numerous residential projects, including buildings and villas.

Dr. El-Ganzouri explained that Crest Development believes that 2024 presents favorable investment opportunities in the real estate sector. He highlighted the high demand from customers for the company’s work, driven by concerns about price inflation.

Furthermore, Dr. El-Ganzouri emphasized that real estate investment is currently the safest option, and investors in real estate are likely to gain returns despite the increase in building material prices. Crest Development firmly believes that real estate investment is the most effective means of preserving capital.

He further mentioned that the company employs risk management strategies to evaluate and mitigate price fluctuations, particularly with regards to iron prices. A percentage of the entire project cost is set aside to safeguard against sudden price increases, ensuring that projects remain unaffected.

Regarding Crest Development’s sales strategy for the upcoming period, Dr. El-Ganzouri stated that the company intends to expand its presence in international markets by exporting Egyptian real estate abroad. The company plans to market its projects in Arab countries, such as Saudi Arabia, Kuwait, Qatar, and the UAE, by participating in exhibitions over the next six months.