Inertia Egypt, a leading real estate company in Egypt, plans to deliver 700 units in its various projects during the current year, despite the challenges in the local real estate market. The company will deliver 500 units in Jefaira, its flagship project on the North Coast.
Ahmed El Adawy, the CEO of Inertia Egypt, said that the company has allocated EGP 3bn for projects construction during the current year, as the market conditions require serious companies with strong financial solvency to increase their construction rates and quality.
El Adawy revealed that the company aims to achieve sales of EGP 8.2bn in the current year by launching new units in Fifty7 and Joulz projects, which have high demand from customers who seek a lively and integrated community.
He explained that Jefaira North Coast is the company’s largest project, spanning 5.8 million sqm. The project offers a variety of units, including separate villas, twin houses, townhouses, chalets, apartments, and studios, as well as numerous services and amenities that ensure a comfortable and enjoyable life for the customers.
Inertia has started delivering units in Jefaira North Coast, as part of its strong delivery plan for the current year, El Adawy said.
He added that the banking sector plays a vital role in supporting the company’s expansion plans, and expressed his appreciation for Banque Misr and Banque du Caire, which provided the company with a bridge loan of EGP 850m to finance the investment cost of Jefaira.
El Adawy also said that Jefaira will benefit from the development of the Ras El Hekma project, as its large area allows it to integrate with the surrounding projects and cities, and to offer its customers access to the various services and recreational activities that the city of Ras El Hekma will provide, as the project is only 23 km away from Ras El Hekma.
He pointed out that the company has a diverse portfolio of eight projects, in terms of activities and locations, that cater to the needs of its current and potential customers. The company has delivered six projects out of the eight, ranging from residential to commercial, in Cairo and the Red Sea.
