Hometown Developments Targets EGP 2 Bn Sales in 2023
The company announces that its plan for the year focuses on accelerating construction rates and delivery of its projects.
The company announces that its plan for the year focuses on accelerating construction rates and delivery of its projects.
The company achieves up to EGP 3 bn in indirect sales in 2022 and enters into partnerships with more than 200 developers in various fields including residential, administrative, commercial, entertainment, and tour ...
Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped threefold to more than EGP 1 bn in 2022 from EGP 372 mn in 2021.
In 2022, MIP launches a new phase in the Vinci project, Vinci Lagoons, in the New Administrative Capital on 5,000 sqm with a coastal line of 700 meters.
The project comprises 97 housing units, including villas, townhouses, and twin villas, in addition to a shopping mall located at 12,000 sqm.
CEO of Akadia Developments, Hana Raouf, says that despite the project’s tough competition with many projects in the New Administrative Capital and the impact of the global economic crisis on sales, the company sol ...
The company’s total revenue surges to EGP 6.7 bn in 9 months to September 30th 2022 from EGP 4.9 bn in the same period a year earlier.
Buyers were being selective and mainly opted to purchase property from well-reputed developers with strong balance sheets.
Abdel Hamid Al-Wazir, Chairman of Arabisk Real Estate, notes that the company will open new branches and headquarters to keep pace with the expansion of its projects.
She notes that sales of the second project exceed EGP 500 mn for 60% of the project.