Sales of Castle Developments to hike remarkably this year, CEO

Chief executive of Castle Developments  Ahmed Mansour said the company will see  a noticeable surge in sales this year, as  the clients are increasingly adjusting to Coronavirus-induced headwinds,  in the midst of price fluctuations triggered by higher   building materials.  

“ With costs edging up recently, companies became obliged to raise prices in their efforts to cope with the current changes,” said he, noting that the market remains ready up till now to handle hikes in materials prices.    

Castle Developments will raise prices by 5% on average this month, he elaborated.

The company extends  special offers to clients during Akhbar El Youm Property Exhibition, namely  a 5 percent discount.

The rising accomplishment rates recorded for the New Administrative Capital’s Castle Landmark was the result of continuing constructions even during last year’s Coronavirus outbreak.   

The 43-acre Castle Landmark  is an integrated smart housing project with EGP3.7bn investments and consists of 46 buildings  and Castle Gate mall.

The 4-phase Castle Landmark encompasses 1800 housing units, along with 250 administrative and commercial units.

Castle Landmark is carrying out the 7600m East Side, another administrative and commercial project in MU2 district with medical, administrative and retail spaces.

East Side has 3 and 2 floors dedicated to commercial and medical businesses respectively, as the remaining floors host administrative businesses with each consisting of 23 units. The built-up area of East Side spreads over an area of 22,000 m and attracts  EGP800mln in investments.

Castle Developments board earmarked EGP200mln for purchases of new lands during 2021, as the company adopts an expansion policy in the Egyptian market with the aim of executing groundbreaking projects with new ideas coping with market changes.