Emtelak Development intends to direct new investments worth EGP 500m into its projects in the east Cairo region during the next year as part of its expansion plan, completing its projects and fulfilling its obligations to its clients.
Chairman of Emtelak Development Ramadan Hosny stated that the company is currently completing concrete and facade works in the Westin Park project. The company began its construction during the current year, in addition to carrying out excavation work and laying the foundation stone for Zahya Business Park in the Downtown area of New Cairo.
Hosny said that the company has a strong business precedent of constructing 45 residential buildings and a large number of villas in New Cairo and its suburbs.
He noted that the company has an expansion plan through introducing a new 20-feddan residential project in New Cairo in the Andalus area. In addition, a commercial and administrative project on Teseen Street at New Cairo will be announced later.
Hosny further pointed out that real estate will remain a safe haven for savings in light of the high rates of inflation and the high price of the dollar and raw materials to preserve the value of money, especially in light of the fluctuation of gold prices.
He disclosed that investing money in purchasing properties achieves large profits that exceed investment in any other field, as the prices of real estate continue to rise no matter how circumstances or events change.
Chief Commercial Officer (CCO) Hisham Al-Fouly said that the company introduces many sales offers through a variety of flexible payment systems that suit the requirements of all customers.
The last quarter of the current year is witnessing an increase in the volume of demand for purchases to benefit from offers provided by companies and facilities in payment systems, he added.
The company’s CCO concluded that the current stage is most suitable for buying and making profits due to the expected hike in prices during the coming year.