Egypt’s property developer Wadi Degla posts 2016 contractual sales of 4 bln pounds

Egypt’s property developer Wadi Degla Holding Company says it posted contractual sales worth four billion Egyptian pounds ($253.2 million) at the end of 2016.

The company is targeting five billion pounds of contractual sales at the end of 2017.

Maged Helmy, Wadi Degla’s Chairman, said Wednesday that his company has raised the costs of its projects by ten percent due to many changes in Egyptian real estate market.

“We rely on diversity in terms of choosing the location and type of our projects along with the spaces of the units, seeking to meet market needs” Helmy noted.