The real estate season is witnessing a strong recovery during the current year, and it is expected that the market will witness more demand for real estate purchases during the coming period, compared to last year, said Shady Mahmoud, Director of the Marketing Sector, Ebtkar Real Estate Development Company.
He stressed that the high demand for real estate is due to the stability of prices in the market during the last period, after the government announced a new package of incentives for developers, which was a strong push for developers to complete their projects and enter into new projects during the coming period.
He explained that the company presented many projects during the last period and achieved high sales, explaining that real estate sales during the current year exceeded the sales of last year of the same period.
He added that many studies were conducted on the real estate market during the first quarter, confirming that the sector achieved a good performance of all kinds in the first quarter of this year, as the hotel sector ranked first, followed by the administrative and commercial sector, and finally the residential sector.
He pointed out that the biggest challenge in the real estate market currently for the real estate developer is how to control construction costs to avoid realizing any potential losses, due to the change in prices, which leads to an increase in the cost, and therefore feasibility studies must be conducted on projects before starting them to avoid any losses.
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