By Eman Hamed
Egypt’s real estate developer Capital Link Developments has launched its new project in New Administrative Capital, during the company’s annual Iftar party, in the presence of company officials and employees, media professionals and journalists.
Ashraf Badea chairman of Capital Link Developments said that the new project is located in New Capital’s R8 area with targeted sales worth approximately EGP 2.5bn. The project features many competitive advantages that guarantee it a strong position in real estate market.
In the company’s Iftar party, Badea added that the project includes many competitive advantages that make it a unique and distinctive project, starting with the project’s location, features, and many distinguished services, in addition to its payment plans.
He pointed out that the company provides flexible payment plans that have been studied in line with property price developments and purchasing power of customers.
CCO at Capital Link Developments Ali Gaber stated that the launch of the new project comes within the company’s plan to expand the development of housing projects and achieve diversification in its investment portfolio.
“This project is also characterized as being the first project that was launched following the implementation of the company’s commercial sector restructuring plan. The company started a plan some time ago to restructure its commercial sector, by developing a carefully studied strategic plan for all details to support the company’s commercial sector and contribute to achieving its tactical goals, by focusing on attracting great competencies that help implement this plan and achieve the company’s goals,” he elaborated.
He added that Capital Link will receive the project land next month, and constructions will begin once necessary licenses are obtained with self-financing, disclosed that accelerating construction rates reduces risks resulting from high prices of building materials.
Gaber stated that the company’s marketing and sales team includes an elite of sales and marketing officials with experience, efficiency, professionalism and the ability to serve customer.
The company has formed a professional and qualified team to deal with requirements of the next stage, the development of the company’s business, and its intention to develop housing projects, he explained.
He added, “The company has an expansion plan in the coming period that focuses on expanding in New Administrative Capital and Sahl Hasheesh city in order to develop a tourist housing project that achieves diversity in the company’s project portfolio. Besides, meeting needs of customers for second home, and that the continuation of developing projects in New Capital enhances any investor’s plan to expand his business.”
The company’s CCO stated that real estate market is witnessing a transitional phase in the current period as a result of high prices of building materials and its impact on cost of construction and selling prices for new units. Nevertheless, real estate market is able to face challenges due to its reliance on real demand, as well as facilities provided by the state to support the sector, along with flexibility of real estate companies in providing several payment plans that suit customer’s purchasing power.
The company’s total projects portfolio comprises four projects in New Capital vary between commercial, administrative and medical projects, namely Solano, Dorado, Verona and Laval projects. Building permits were obtained for three projects, and construction process of two projects began in New Capital, as part of its plan to maintain timetable for implementation and delivery, according to CCO.
The company eyes recording EGP 2bn of sales in its projects in the current year, following the launch of the new project and the implementation of restructuring plan. Additionally, the company intends to be present in a number of real estate exhibitions during the current year, including Next Move in June and Cityscape Egypt in September, he concluded.