“Arabesque” launches two projects in New Cairo and the Administrative Capital, with targeted sales exceeding one billion pounds, said Dr. Abdel Hamid Al-Wazir, head of Arabesque Real Estate Development and head of the Support and Follow-up Committee of the New Cairo Developers Association.
He added that the company has many projects in New Cairo, as the company aims to expand its land portfolio during the coming period, to establish many projects, after the company’s success in providing housing units in New Cairo with a total price of 650 thousand pounds and areas that start at 110 square meters.
He stressed that the company provides housing units at reasonable prices, as the company relies on self-financing in its projects, stressing that the real estate sector is one of the most sectors with a high investment return, and it is called “ROI”, where real estate companies launch their projects, with total payments for the value of the land only, And depend on the implementation of projects from the volume of sales, which makes real estate companies achieve high gains of not less than 100%.
Dr. Abdel Hamid Al-Wazir, expected an increase in demand for the real estate sector during the coming period, due to the high percentage of demand for housing units compared to the supply, indicating that the real estate sector needs at least 800,000 housing units annually for the various segments, whether it is luxury or medium housing or Social housing.
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