Egypt’s Hyde Park Developments makes sales of $323mln in 8 months

Egypt’s Hyde Park Developments, a leading real estate developer, announced on Wednesday it achieved sales of ten billion Egyptian pounds in eight months.

The company’s total target was 12 billion pounds to 13 billion pounds by the end of the current year. The sales include the company’s projects in east and west Cairo as well as the North Coast.

The CEO of Hyde Park Developments, Amin Serag, said the company is seeking to increase delivery and construction rates in 2023, to protect itself from the high construction cost. The company has also increased its capital from 400 million pounds to reach 1.8 billion pounds.

According to Serag the company’s portfolio includes the Hyde Park project in New Cairo, the Business District in east Cairo, the Tawny compound and Garden Lakes project in west Cairo, and Hyde Park North in North Coast.

The projects have total investments surpassing 80 billion pounds.