Egypt-based Wadi Degla to boost its contractual sales in 2016 to $563mn

Egypt’s property developer, Wadi Degla Holding aims to record contractual sales of 5 billion Egyptian pounds (US$ 563 million) in 2016 compared to 3 billion pounds a year earlier, its deputy CEO  Amr Al Kady said Thursday.

The company would achieve the sales through promoting 3,000 units in different projects and launching new phases within the already existed projects long with establishing new ones, Al Kady added.

In addition, Wadi Degla is working on marketing some of its projects, notably Blumar El Sokhna, which stretches over approximately 1,1 million m2 tailored to establish 2,500 tourist units and a hotel over five phases, he added. The company has also finalised marketing 50 percent of this project.

He told Amwal Al Ghad that his company has offered the ministry of housing to partner with it to develop an integrated residential city including sports facilities with the proposed new administrative capital city.