Concrete Plus Real Estate Development aims to achieve sales worth 5 billion Egyptian Pounds from its administrative project, “Urban,” located in the Fifth Settlement area.
Purchasing lands in the Fifth Settlement and Sheikh Zayed to establish partnership projects. Tarek Youssef, the company’s CEO, revealed that the construction process of the project has reached 50% at present, with a target to complete it entirely within a year.
Youssef added in recent statements that they plan to offer the project building for sale by the end of this year. However, he mentioned that the company is also considering another alternative, which is renting it to clients due to the expected high returns, explaining that this option is available and under discussion.
He also revealed that Concrete Plus Real Estate Development recently signed contracts to purchase new plots of land in the Fifth Settlement and Sheikh Zayed, aiming to establish partnership projects with other developers in the coming period.
Concrete Plus Real Estate Development is a subsidiary of Concrete Plus for Engineering and Construction, which was established in 1998 as a contracting company.
Since its establishment, the company has undergone several changes in its ownership structure, most notably in 2008 when engineers Tarek Youssef and Hossam Fakry acquired it in equal shares, and its ownership has remained stable in this form ever since.
Concrete Plus for Engineering and Construction includes several arms operating in various fields, including three in contracting, real estate, and industry.
