The Waterway Developments prepares to launch its latest project, an integrated residential compound in New Cairo, during the Cityscape Egypt exhibition, Invest-Gate reports.

The 30- acre project is a fully-serviced residential compound located on the Northern 90th Street in the Fifth Settlement. With an initial investment of EGP 5bn, according to the company’s official statement.

The Waterway Developments has achieved a 50% – increase in contractual sales during the current year, compared to the volume of sales achieved in the same period of 2019.

“The company has recorded a 30% – increase in sales during the past few months”, Haitham Samir, CEO of Equity for Investment and Real Estate Development, a subsidiary of The Waterway Developments, was quoted as saying.

Samir further adds that the sales boom reflects the strength of Egypt’s real estate market, as well as the distinction of real estate products implemented by the company and its subsidiaries. Besides, The Waterway Developments’ marketing plans have been developed based on accurate studies, to provide what is commensurate with the needs of target customers.

He also notes that about 36% of the company’s customer base is non-Egyptian, hailing from Canada, the US, France, and Dubai. He believes that The Waterway Developments will achieve a sales range of between EGP 700-800 mn by the end of the current year, so long as the company does not launch new projects.

Moreover, Samir underlines the company will offer special deals during the four-day Cityscape Egypt exhibition, which will be held from November 4 to 7, including extending payment terms with longer periods of up to 10 years.