Ahmed El Shenawy, the managing director for ADVA Developments has announced that it is estimated to make a profit of 500 million by the end of this year. He also proudly mentioned that the shares of foreign investors reached 10%, and hence the company announced the launching of 2 new residential projects lying in the western side of Cairo, the first project would spread over 11 feddans and with total investments of 1.2 billion EGP, and the other spreading over 20 feddans.
El Shenawy has also announced that “AD-Vida Zayed” is planned to be launched and delivered by the mid of 2025, a residential project that comprises 30 villas, commercial buildings spreading over 5 feddans, and various units of spacious areas. Adding the progress that the project had reached, with 13 villas done so far.
EL Shenawy also stated that the strategy of 2024 involves pumping 300 Million to accelerate and speed the progress of construction for ADVA’s projects during the upcoming year 2024. Mentioning that the new strategy also involves the construction of new projects in the western side of Cairo, and in the New Sohag city and New Minia City, while also still on the works of taking a decision to develop a new project in the New Administrative Capital.
This is done upon the strategy of the expansion of the company that also involves expanding abroad, in Oman, and the Emirati market through their Dubai office. While still maintaining international exhibitions.
And with their goal to penetrate the global market, El Shenawy mentioned that the company is planning to construct their first project in the Saudi market in Riyadh in the second quarter of 2024, with a residential project.
ADVA is also investing more than 1 billion in projects that lie in New Zayed city.
