Gates Developments reveals recording EGP 1.8bn in sales of its projects in 2021, with a growth rate of 130% compared to 2020, Invest-Gate reports.
Ali Gaber, chief commercial officer at Gates Developments, states that achieving these strong sales is based on a specific and comprehensive marketing strategy, cooperating with successful partners, and the administrative restructuring carried out by the company at the beginning of the year.
Gaber further adds, “At the beginning of the year, Gates Developments had identified its strong elements that require further consolidation and identified the company’s internal challenges in a full-detailed market study, through which work mechanism and targeted sales plan are recognized.”
Additionally, he remarks that the most prominent element of the company’s strength is its acceleration of construction rate among various projects, adding that the company has a diverse portfolio that meets the demands of a larger segment of customers, as well as, the flexibility of payment plans that take into account the needs of target customers.
Direct marketing represents 36% of the company’s recorded sales in 2021. Gates Developments has cooperated with a number of marketing companies, he discloses.
He also comments,” In 2021, the company has sold 91% of Catalan, which is located on 40 acres with a total investment of EGP 1.8bn in the heart of NAC’s R7 area. Moreover, the company managed to sell 70% of Audaz in the NAC, in addition to 70% of West Gate in 6th Of October city, West Cairo.”
Additionally, he concludes that such volume of sales reflects the continued growth of Egypt’s real estate market as a safe haven for investment, as well as the continued presence of strong and real demand throughout the year, especially in NAC, with expectations of more demand for properties in NAC.