Egypt-based Royal for Real Estate Development plans to pump EGP 150 mn into its New Cairo projects in 2020, compared to an investment value of EGP 100 mn a year ago, Invest-Gate reports.

Sherif Shaalan, the company’s chairman, said that the developer has already implemented more than 50 villas and apartment buildings in different areas across New Cairo, including Beit El Watan, Lotus, Andalusia, among others, underlining that Royal for Real Estate Development intends to further expand into New Cairo with other residential additions, according to the company’s press release on June 14, 

Accordingly, the developer has already rolled out 40 residential units in New Cairo during the first five months of 2020, with 80 others planned for launch by year-end. Properties come with various spaces and are provided through different flexible payment plans, considering the buying power of all potential clients, Managing Director of Royal for Real Estate Development Karim Shaalan confirmed.

Moreover, he highlighted that the company has a vigorous expansion plan that takes into account the current challenges and new advancements in Egypt’s real estate market, especially in light of Coronavirus, which will greatly impact consumer purchasing power as well as developers’ payment plans. It also aims to build on its 14-year experience in the property industry by crafting high-quality designs and masterplans, not to mention adhering to punctual delivery dates. 

Royal for Real Estate Development is part of a number of sister firms, operating across diverse sectors in a bid to support the company’s investments, including a facility management firm. This comes along with Royal One, which is currently carrying out “Capital Prime” in the New Administrative Capital (NAC), besides a mini compound in New Cairo’s Lotus area, called “Royal Green.”