Abd El Aziz El Ganzouri, the founder and chairman of Crest Real Estate Development, confirmed that the company is executing two commercial and administrative projects in 2024, targeting sales ranging from 1.2 billion to 1.3 billion Egyptian pounds.
He noted that the company has been operating in the field of contracting and real estate development for nearly 10 years, starting in 2013, during which it has implemented numerous residential projects including buildings and villas.
Abd El Aziz El Ganzouri explained that Crest Real Estate Development sees 2024 as a good year for investment in the real estate sector. He pointed out that there is a very high demand from clients for the company’s projects due to concerns about price inflation.
Abd El Aziz El Ganzouri emphasized that real estate investment is currently secure, and those who invest in real estate are winners despite the increase in building material prices. He asserted that Crest believes that real estate investment is one of the best types of investment for preserving wealth.
He highlighted that the company has a risk management department that evaluates and accounts for price increases, particularly in relation to iron prices and concerns about sudden increases, in order to prevent the projects from being affected by price hikes.
Regarding Crest’s sales strategy in the coming period, he stated that the company is considering exporting Egyptian real estate abroad and marketing its projects in the next six months by participating in exhibitions in Arab countries such as Saudi Arabia, Kuwait, Qatar, and the UAE.
He added that the company is working on producing modern technical real estate that includes all the features required by clients, such as energy and water efficiency. Therefore, structural, architectural, and smart building designs are taken into consideration in the implementation of upcoming projects. The concept of buildings has changed compared to the old thinking, and this must be taken into account in the projects.
Abd El Aziz El Ganzouri, the chairman of Crest Real Estate Development, affirmed that the state’s support for real estate development is excellent. The government periodically supports investors by providing investment incentives, compensating companies for price differentials that increase from time to time. In addition, the government stands beside the developers in paying off land installments and schedules the prices of project lands for the investors.
It is worth mentioning that Crest Real Estate Development entered the real estate development market in 2013, where its business volume reached 17 projects, including villas and buildings in New Cairo, between the Lotus and Gardenia Heights areas, and separate buildings in 6th of October and Sheikh Zayed. The company also developed a commercial mall in 6th of October. Then, the company entered the villa area, and its business volume reached 50 diversified villas, including the Carnation area in the Fifth Settlement. The company expanded in the South Academy area, the Jasmine area, and the Narcissus area, as well as in the Ahya’a area.
It is worth mentioning that Crest has contracted over the past two years for business volume equivalent to one billion Egyptian pounds, including contracting works in the Nakheel compound in the Police Academy, as well as contracting works with government projects. They have executed three projects in the Mansoura Complex and in Menoufia, and they are currently executing contracting works for several projects.
