Coldwell Banker Eyes EGP1.5 bln Sales in Egypt This Year

International real estate agent Coldwell Banker plans within this year marketing housing units totalling EGP 1.5 billion in Egypt, versus EGP 1.040 billion marketed last year.

According to Mohamed Banany – Vice President at Coldwell Banker New Homes,  Coldwell is doing marketing of housing units of around 80 projects, since it deals with 24 real estate developers across the country.

Speaking to Amwal Al Ghad on sidelines of Cityscape Egypt Real Estate Exhibition, Banany said Coldwell has managed to sell around 1000 residential units throughout 2013, at average price of EGP 1.1 million a unit.

Moreover, Banany further noted that real estate market in Egypt is likely to boom within the current year, with potential rates up to 50%.