Egypt-based Royal for Real Estate Development aims to achieve sales worth EGP 250 mn from its array of projects across the country in 2019, Invest-Gate reports.
CEO of Royal for Real Estate Development Sherif Shaalan told Invest-Gate that the company is carrying out a number of projects in New Cairo, adding that the firm is developing ten residential separate buildings in the area, with total investments worth EGP 150 mn.
Shaalan pointed out that the delivery of these developments will commence during this year and the rest will be handed over in 2022, noting that the company will deliver eight residential buildings in 2019 in New Cairo’s Andalus and Lotus areas.
Additionally, the CEO elaborated that Royal for Real Estate Development offers seven different payment terms, with installment plans of up to seven years and without interest rates.
“Royal for Real Estate Development succeeded in delivering more than one project during the current year, which reflects the credibility and commitment in dates of implementation and delivery, as well as, the ability to maintain the quality of real estate product provided to customers,” Shaalan highlighted.
“The company has been operating in the market for about 12 years, during which it was able to execute and deliver more than 45 projects, comprising separate buildings that were implemented and delivered according to the company’s contracts with its clients, alongside the required quality, luxury, and finishes. We also provide after-sale integrated service management to our customers,” he added.
The CEO further revealed that real estate sales are stable during the first quarter of 2019, denying any deceleration in the market. He explained that one of the vital issues facing medium-sized developers is lack of land plots offered to these firms by the state, calling for the need to provide enough land at affordable prices to support such companies, which play a significant role in untangling the country’s housing problem for a large segment of customers in the market.
