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Reading: Etqan reveals details of fair pricing for real estate units in New Capital
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Dailynewsegypt > Blog > Business > Real Estate > Etqan reveals details of fair pricing for real estate units in New Capital
Real Estate

Etqan reveals details of fair pricing for real estate units in New Capital

Daily News Egypt
Last updated: 2022/05/31 at 1:39 AM
By Daily News Egypt 3 Min Read
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Etqan reveals details of fair pricing for real estate units in New Capital
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Etqan for Financial and Marketing Consulting revealed mechanisms and rules for unit pricing in the New Administrative Capital, especially mixed-use buildings, in light of many variables and conditions in the market.

The company’s General Manager and Finance Business Partner Ahmed Abdelaziz said, “Etqan participated in the pricing of about 25 projects in the New Administrative Capital and a diversified selling offering amounting to approximately EGP 50bn within two years. During that period, we developed financial studies and pricing strategy for projects in a better and more accurate way.”

Abdelaziz added that financial study of a project goes through three different phases, which are briefly first: an initial study based on description cards, the development of the study based on the final designs of the project, and then the final pricing of units and different payment plans.

He continued, “In the second phase of financial study, a general average price per square meter for each type of property (administrative – commercial – medical – hotel) is reached, based on market study (market status – current prices) and the data as well as objectives of financial study. In the third phase, the final pricing is done with LCAPS parameters.”

He explained that LCAPS is an abbreviation for the location of the project, its category, payment methods and  units space, pointed out that “L: Location” is the location of the project first, then the location of each unit within the project (front – rear – side – single or double corridor – next to elevators and stairs – ease access – ….. etc.).

He further explained that “C: Category” means the type of property. The main activity is determined whether commercial or administrative, then clarifying commercial activity (restaurants and cafes – pharmacy – clothes – communications – … etc.), and A: Amount of frontage and used in evaluating price of commercial unit, which is the ratio of unit width (facade) to length, where the optimal ratio is 1:3.

Additionally, “P: Payment”, which is the payment method or payment plan. “S: Space” is the size of the unit, for each property averages spaces. The size of the unit and its suitability for the activity are evaluated.

Each of these five determinants is evaluated by a percentage, a relative weight is given in advance to each of these determinants, and the relative weight of each determinant varies according to each project and its specifications, he explained.

In the end, the price of each unit is reviewed and compared, and some adjustments are made if necessary, Abdelaziz concluded.

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TAGGED: Etqan, New Capital
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