Shady Mahmoud, Marketing Director of Ibtkar Company: The company is considering entering into new projects in the Administrative Capital
Ibtkar Real Estate Development Company markets 10 projects in many areas in New Cairo, including the Lotus area, North Al Rehab, North House, Andalus, and other areas, with different areas starting from 149 square meters to more than 300 square meters, according to customers’ desire.
The company is pumping nearly EGP 200m in investments directed to these projects, explaining that it is intended to deliver these projects within 3 years,said Shady Mahmoud, Marketing Director of Ibtkar Real Estate Development Company.
He explained that the company has implemented more than 100 projects in the city of New Cairo, explaining that these projects have been delivered and others are under construction.
He stressed that the company focuses on its projects in New Cairo, explaining that the city is witnessing a high turnout compared to many new cities, and the company aims to expand its investment plan during the coming period.
He added that the company is studying the acquisition of residential land in the new administrative capital city and the northern coast, pointing out that the company aims to expand its entry into many projects during the coming period.
He stressed that the real estate sector will continue to have its attractiveness, in light of the proposals for investment certificates, explaining that investment in the real estate sector is long-term, which has a high return, compared to many other sectors, as real estate companies witnessed great pressure during the past year amid a sharp increase in the cost on Over the course of the year, it increased by more than 50% of the implementation cost, which led to an increase in real estate prices during 2022 by no less than 20%.