Arabisk Development launches three commercial projects in New Cairo’s Fifth District
The company plans to launch three commercial malls in New Cairo’s Fifth Settlement this year, with targeted sales estimated at 9 billion EGP, said Dr. Abdel Hamid El-Wazir, Chairman of Arabisk Real Estate Development Company.
He added that the commercial malls launched by the company are all located on main roads, with an average area of 4,500 square meters. He also explained that the architectural designs have been completed in collaboration with leading firms.
He announced that the company is exploring all investment opportunities in the real estate sector to diversify its project portfolio, highlighting that there are numerous investment opportunities in new cities. He also noted that this year has witnessed an expansion plan for most real estate companies.
He pointed out that the North Coast region accounted for the largest share of real estate investments offered last year, with companies achieving sales exceeding 70% of the real estate market. He also explained that the company is currently studying the North Coast area to establish real estate projects there.
He explained that returns on investment in the real estate sector are high, attributing this to annual price increases in the sector of no less than 20%.
