ICEC

Capital Real Estate clients’ sales at EGP 50 mln in H1

Egypt’s Capital for Real Estate Investment and Contracts has posted 500 million Egyptian pounds ($28 million) in its clients’ first half sales, said chairman Farouk Rashad on Sunday.

Capital Real Estate is one of the fast growing companies in Egypt’s construction and building sector, alongside building and marketing real estate projects.

The company is planning to achieve sales estimated at one billion pounds at the end of this year, Rashad told Amwal Al Ghad.

“It is expected to increase the costs of promoting commercial and administrative projects in the real estate market to range between 20 percent and 25 percent at the end of the current year,” he said.

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