Royal Developments to hand over 50 housing units in New Cairo this year

Royal Developments is poised to hand over 6 residential projects in New Cairo consisting of up to 50 housing units with varied spaces in 2020.

Chairperson Eng. Kareem Shalaan said that the real estate market has gone through Coronavirus-induced headwinds this year.

"However, developers handled the crisis in a flexible manner and managed to deliver project on schedule," said he. 

Shalaan explained that the government’s continued implementation of its national projects, whilst taking precautionary measures, encouraged many developers to resume work while preserving their workers’ health and safety.

Royal Developments plans to roll out 80 units in New Cairo during 2020, of which 40 units have already been rolled out in the first five months of this year.

These units comes with diverse sizes and flexible payment schemes, making them more affordable for a wide segment of clients. While having varied spaces averaging 106m, the units are sold against EGP50,000 down-payment and 7-year installments.

He stressed that the company has a strong expansion strategy during the coming period, taking into account the market changes after COVID-19, which will affect the local purchasing power and their priorities. This includes providing new payment plans that cope with these changes.