Gates Developments records EGP 1.8bn in sales during 2021

Daily News Egypt
2 Min Read

Gates Developments announced EGP 1.8bn in sales during 2021, with a growth rate of 130% compared to 2020.

Ali Gaber, CEO of Gates Developments, said that achieving this volume of sales depends mainly on a specific and comprehensive marketing strategy implemented by the company’s work team and in cooperation with major partners in various sectors.

He noted that the company has a diverse portfolio of projects that meets demands of a larger segment of customers as well as flexibility in payment systems that take into account needs of target customers.

Gaber said that direct marketing contributed to 36% of the company’s sales registered in 2021. Moreover, the company has cooperated with a number of marketing companies, whose number has increased to nearly five times, he disclosed.

“In 2021, the company sold 91% of Catalan project, which is located on 40 acres with a total investment of EGP 1.8bn in the heart of New Administrative Capital’s R7 area. Moreover, the company managed to sell 70% of Audaz commercial project in the New Capital, in addition to 70% of commercial project West Gate, in 6th Of October city, west Cairo,” he said.

This volume of sales reflects the continued strength of Egypt’s real estate market as a safe haven for investment, as well as the continued presence of strong and real demand throughout the year, especially in New Administrative Capital, with expectations of more demand for properties in New Capital, coinciding with the transfer of government employees to the city, he concluded.

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