In mid-March, Brickzey Property Management celebrated with Arabia Holding the signing of a contract die the former to market the Arabiano project in Hadayek October exclusively.
Arabiano, one of Arabia Holding’s projects, consists of 46 buildings and is located on an area of 20 feddans (84,000 sqm) and close to medical, entertainment, and educational services such as Zewail City of Science and Technology, New Zamalek Club, Mall of Egypt, and the Egyptian Media Production City (EMPC), and is also very close to El Wahat Main Road.
Moreover, the project is close to the project Sun Capital and includes 750 apartment and penthouse units with spaces ranging between 90 sqm and 180 sqm, according to CEO at Brickzey Property Management Ahmed Selim.
Selim said that his company targets marketing 300 units at Arabiano every month, expecting to complete the project’s marketing within two months.
The project will include entertainment areas for adults and children, two commercial malls, medical services, cafés, and restaurants, according to Nader Badr, executive board member at Arabia Holding.
Badr noted that the project is characterised by fully finished units that are ready for move-in and connected to all utilities, which makes the project a real opportunity for those looking for housing or to invest in property.
He also pointed out that the project is complete, and the company is currently working on landscaping and services, adding that the project’s delivery will be done within one year.
Selim noted that Brickzey was targeting EGP 4bn in sales for developers by the end of 2018, but the company has achieved EGP 1bn in the first three months of the current year, compared to EGP 700m last year.
Selim added that the company is expecting sales to reach EGP 6bn by the end of the year.
Brickzey Property Management is marketing five projects exclusively; four in Sixth of October and one in Ain Sokhna. In addition, the company is negotiating with other developers to market new projects. The company’s marketing portfolio includes 100 projects from more than 40 developers.
Selim explained that the company marketed a middle-income housing project on 19 feddans in the northern expansions of the city of Sixth October. Another residential project in Hadayek October consists of 300 units.
“We further target marketing another project exclusively in the New Administrative Capital on 37 feddans. In addition, we target marketing a project in Ain Sokhna on 40 feddans. Nevertheless, we are one of the top brokers for marketing Sun Capital on behalf of Arabia Holding and the Etapa project from City Edge Developments,” Selim noted.
He pointed out that 80% of sales are achieved through social media outlets and 20% comes from other websites.
Selim revealed that the company will launch three new branches this year and will train 120 marketing consultants.
Regarding exporting real estate, Selim said, “with the unstable situation in the Arab Gulf area, the demand is high for purchasing real estate units and villas in Egypt, especially in Sheikh Zayed and the New Administrative Capital. Further, after the development of Il Galala and New Alamein cities, real estate exports will reach their highest rates, which may reach 100% to 200%.”
He further added that the political stability in Egypt will attract more Arabs to buy more property in the country. “Besides, the devaluation of our local currency will encourage more foreigners and Egyptian expats to acquire property,” Selim said.
He projected that about 30-40% of money flow, after the expiration of high-interest rate certificates, will be directed to the real estate market.
Prices are expected to increase by 30% this year due to the foreseen increase in demand, in the next period, from customers to buy, especially for the purpose of high profitability investment. In addition, investing in real estate is a safe investment, especially for companies that are credible and have no delays in delivery, according to Selim.
He said that the launching of new large projects in Sixth of October will contribute to raise the demand for the city and also will participate in promoting the state’s property export strategy, explaining that the current economic situation will increase its export by 100-200%.
He stressed that the governmental partnership projects have received great demand from customers and achieved marketing success with the presence of the state as a partner in the project, which represents an assurance for customers. In addition, the partnership system is compatible with the needs of companies as it provides the value of the land and directs the available liquidity for the implementation process to speed up the turnover of capital.
Brickzey was founded in 2012 under the name Gardens for Real Estate. Gardens was limited to brokerage services; three years later, the organisation’s direction changed to be more inclusive and to provide in-depth services that suit the real estate industry’s different needs. “Here arose the idea of renewing the whole brand identity, including changing the name to be Brickzey Property Management,” Selim said.
Brickzey was founded in 2015 as a privately-owned commercial real estate services company.