Masharef for Real Estate Development has signed joint cooperation deals to market and sell 30 new projects in the New Administrative Capital (NAC), as it plans to raise its portfolio of projects, especially in East Cairo and the NAC, Invest-Gate reports.

Mohamed Reda, head of sales at the company, said that Masharef aims to achieve total sales for third parties worth EGP 500 mn during the upcoming year from their NAC projects, according to a recently released statement.

He pointed out that the company will focus next year on the NAC developments, which are deemed a top demand in the Egyptian real estate sector since the beginning of the second quarter of 2018.

According to Reda, the projects marketed by the company in the capital vary in services, spaces, and prices, ranging between EGP 7,000 and EGP 12,000 per square meter, in addition to payment plans of up to 10 years – with no down payment – to suit a colossal chunk of clients, particularly homebuyers and those seeking to invest in the sector.

The official anticipates a rise in prices of NAC’s projects in the next forthcoming three years, with the start of delivery dates, to about 100% of its current value, which makes it a potential investment opportunity – in addition to the government’s efforts in the financial and business areas which will be homogenized with diligent efforts to complete the country’s development projects of West Gulf of Suez as well as Ain Sokhna Suez Canal.

Masharef’s portfolio of projects exceeds 80 projects, in cooperation with more than 40 real estate developers in various areas of the Egyptian real estate market, according to Reda.