El Wardany Developments, one of the leading real estate companies in the Egyptian market, has announced the launch of its 14th project in the Sixth District of New Cairo, Invest-Gate reports.

For his part, Group CEO Moayad El Wardany emphasized that the company currently holds nine projects in the Beit Al Watan area in New Cairo and other projects in Al-Andalus, Gardenia, North House in New Cairo, and Tanta Governorate.

During a press statement, the company’s president highlighted that the Egyptian real estate market stands as one of the strongest markets in the Arab region. He pointed to the significant influx of foreign investments into Egypt in recent years, particularly in New Cairo and other new cities.

El Wardany further emphasized that New Cairo continues to dominate in consumer purchasing power for real estate, anticipating a substantial surge in property purchases at the onset of 2024. He also predicted a notable growth in sales within the real estate market.

Concluding his remarks, El Wardany noted the proliferation of offers and discounts provided by companies, which have seen a significant increase in recent periods. He highlighted the considerable rise in the number of real estate development companies, considering it a healthy phenomenon that fosters a competitive environment in the market.