Egypt’s United for Real Estate Development sells 70 % of available units

Egypt-based real estate developer United for Real Estate Development has sold 70% of  its available housing units and expected  sales to increase 10% by this weekend,  according to its  sales manager Ahmed Ghamry.

Ghamry made those comments during the first day of the Elite Real Estate Exhibition (EREEX) which is held in Egypt at Cairo Convention Center from 19 July to 23 July.

He said that investments have amounted to 100 million Egyptian pounds and these investments range from under-construction to completed and future projects.

The company is currently working on 15 projects in Fifth Settlement in the South Academy, Banafsag, Lotus, Andalus, Tamr Henna, and Oronfel districts, Ghamry explained.

He added that the apartments and villas that they offer range from 150 sqm to 400 sqm, and the prices range from EGP 4,500-7,500 depending on the location.

Additionally, Ghamry said that the company helps their clients by providing different payment options, such as cash payment or paying 20% deposits with instalments paid over up to four years.

Ghamry said: “the obstacles that face [the company] face everyone in the investment market. Whatever the government orders or issues is applied on every real estate investing company and we adapt to it.”

He also said that the company does not have a problem with the government’s orders and is always able to overcome such problems when they arise.