Abraj Misr eyes contract sales of $180mn in Egypt by end-2016

Egypt-based real estate developer, Abraj Misr eyes achieving contract sales estimated at 1.6 billion Egyptian pounds (US$180 million) by the end of 2016 versus 560 million pounds in 2015.

Speaking to Amwal Al Ghad, Chairman Ali Rabie clarified that the company plans to attain this volume of contract sales through The Gate and The Shore projects.

He stated that Abraj Misr adopts a strategy that depends on three axes notably start working powerfully in The Gate and The Shore projects in North Coast besides delivering all units in Florenta projects.

Abraj Misr built its marketing strategy and targeted sales for 2016 on a number of facts notably the real demand of local market, the chairman said. Additionally, the strategy relies on the increasing annual gap between the demand and number of available units as well as providing significant real estate products with high competitiveness.

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