Nehad Adel, Chairman of B2B Marketing and Real Estate Investment, said the market has begun to take real steps towards gradual improvement, which is reflected in the increase of real estate prices following the presidential elections and President’s Morsy’s ascent to leadership.
Adel stated that his company was established by the beginning of the current year. B2B signed several marketing agency contracts with a number of Real Estate Developers, such as 6th of October Development and Investment (SODIC), to handle the Cairo West project marketing. B2B also became the marketing agent for Emaar Misr for Development S.A.E. to handle marketing for the Up Town Cairo, Marassi and Mivida Egypt projects.
B2B is also handling the marketing of the Hyde Park project’s third phase. The third phase of the project is being developed within a contract between both Mountain View Real Estate and Hyde Park Properties for Development.
Also among the marketing agency contracts signed by B2B was a North Coast project on behalf of SWANI Resorts and Project Vagio, which is owned by LakeView.
Adel expects an increase in the real estate development rates during Q4, once developers start offering new phases of their projects with prices higher than those of the former phases. Prices will increase for selling or buying, Adel added, in addition to an increase in commercial and administrative units’ prices. Furthermore, new payment facilities would be provided that exceed the six-year limit.
Adel noted the return of the re-selling processes in the secondary markets, most of which are near-delivery or finalised projects in 6th of October city and New Cairo, particularly the Fifth Settlement.
B2B signed a marketing contract for the Medical City in 6th of October, where over 15 thousand square metres are being established at the center of El-Sheikh Zayed city. The first phase of the project includes delivering 100 fully-equipped clinics.