Madaar for Real Estate Development” participates with exclusive offers at the “Cityscape Egypt 2024” exhibition.
In a new step to strengthen its position in the Egyptian real estate market, Madaar Development Company is participating in the Cityscape Egypt 2024 exhibition, which will take place from September 25 to 28 at the Egypt International Exhibition Center. The company will present exceptional offers and exclusive payment systems on its most prominent residential and commercial projects.
Every year, the company is keen to participate in Cityscape, the largest real estate exhibition in the country, to promote its projects in light of the significant presence at the exhibition, which attracts about 40,000 visitors. During this year’s exhibition, Madaar offers units without a down payment in its “Azha” Ain Sokhna project, with a payment period of up to 8 years. The company is also offering units in the project with a 10% down payment, a payment period of 9 years, and a 40% discount on cash payments. Madaar’s offers also extend to its “Azha” Ras El Hekma project, which includes units without a down payment and with a payment period of 9 years and other units with a 10% down payment and a payment period of 10 years, as well as a 40% discount on cash payment.
Ahmed Ehab, CEO of Madaar Development Company, stated that during the Cityscape event, the company will give the exhibition’s audience a glimpse of its latest residential projects in West Cairo, specifically in New Zayed. This comprehensive (residential, tourist, and administrative) project spans 250 acres. This comes as part of the company’s target to inject investments worth 8 billion Egyptian pounds in 2025 and achieve 20 billion Egyptian pounds in sales during the same year.
He added that the Egyptian real estate market is very attractive and far from the idea of a real estate bubble. The demand is continuous and increasing, noting that the market needs about 600,000 housing units annually. In comparison, what is being built annually does not exceed 200,000 units. He confirmed that the market has many investment opportunities in the New Administrative Capital, East Cairo, or West Cairo. Still, the most attractive opportunity is on the North Coast, specifically the Ras El Hekma area and nearby areas, especially since the Ras El Hekma development project will turn the area into an all-year-round attraction. The success of the Alamein Festival this year will enhance this.
The CEO of Madaar Company indicated that the company has outpaced the scheduled deadlines for the delivery of units in the “Azha” Ain Sokhna project, and delivery will be one year earlier than the scheduled dates, as the work pace is proceeding rapidly. He pointed out that 1,600 fully finished units have been delivered, and about 70% of the project has been completed. He added, “Regarding our project on the North Coast, the execution rates are also fast, and the units are expected to be delivered earlier than the scheduled date.
