Arabisk Development expands its portfolio of projects and acquires land in Obour City
The company is expanding its portfolio of projects during the coming period, as the company witnessed an expansion in its administrative structure during the last period to keep pace with the developments and expansions that the company is witnessing, said Dr. Abdel Hamid Al-Wazir, Chairman of the Board of Directors of Arabisk Real Estate Development Company and Chairman of the Support and Follow-up Committee of the New Cairo Developers Association.
The head of Arabisk Real Estate Development Company added that the company obtained a plot of land in the new Obour City to launch an administrative commercial mall on an area of 2,500 square meters, with targeted sales of 300 million pounds.
He pointed out that this project is part of a series of projects that the company will launch during the coming period at the level of new cities, as the company focuses on commercial and administrative projects during the coming period.
He explained that the real estate sector is one of the sectors that are safe for investment, pointing out that investing in the real estate sector is a long-term investment that leads to a high and guaranteed profit margin, as real estate cannot be dispensed with for housing.
He stressed that the real estate sector witnessed price increases of no less than 30% during the last period, due to price fluctuations in building materials, and a large increase in the prices of finishes, which led some companies to resort to stopping their sales until a clear vision of the real estate market appears.
