EFID Developments has announced the launch of its business in Egypt’s real estate market with a strong plan to develop flagship projects in the West Cairo region, with initial investments of EGP 1.2bn in the first year.
Chairman of EFID Developments Mohamed Abdel Badie said that the various investment opportunities currently being offered by the state in numerous parts of Egypt encourage the private sector to expand its existing investments and initiate new businesses to take advantage of these promising opportunities.
Abdel Badie added that the company has chosen the West Cairo region to launch its business due to comprehensive urban development the region is currently experiencing, which is an urban, agricultural and industrial development that balances it with the East Cairo region, noting that market studies reveal a strong and real demand in West Cairo.
He pointed out that the company’s shareholders and its board of directors decided to support the state in its current development plan and invest in new cities that are currently being developed. Accordingly, the company’s board is keen on existing in distinctive areas, namely in New Zayed City to introduce distinctive projects that leave a strong imprint on customers.
“The company has already begun to develop an investment strategy that guarantees the company a unique position in the local real estate market and in the west Cairo region in particular,” he said.
“Additionally, the company has assigned Abdel Rahman Khalil, a well-known consultant for many economic entities, to set up the corporate foundation structure, choose teamwork, develop a general strategy, as well as, selling and marketing consultancy.”