ADC Developments eyes recording EGP 2bn of sales in 2023

Based on more than 35 years of experience in Egypt’s real estate market, ADC Developments intends to achieve EGP 2bn in sales next year through implementing its expansion plan to launch two new projects.

Chairman of ADC Developments Haytham Afifi said that new cities that the state is currently developing include promising investment opportunities for all serious companies, noting that the company has succeeded in executing a large number of separate projects in Fifth Settlement, New Cairo, Heliopolis and Nasr City. Furthermore, the company has developed two tourist resorts in Sharm El Sheikh, in addition to, Katameya Breeze project in New Cairo.

Afifi added that the company aims to expand in New Administrative Capital, New Cairo or North Coast, where the company is still studying a number of distinguished investment opportunities that achieve diversity in its portfolio of projects, and meet needs of customers.

He noted that ADC focuses on conducting market studies that link its developed properties and target customers.

He pointed out that the company is currently developing Vera Tower project in the New Capital with investments of up to EGP 500m. It is an administrative commercial project, the first phase of which was sold out in record time. Moreover, the company is currently launching the second phase of the project with competitive spaces and payment plans.

Rapid construction rate

Afifi noted, “The rapid construction rate is one of axes on which the company's work strategy is based to fulfill its contracts with customers and its credibility in real estate market. Furthermore, the company began carrying out excavation work on the project, and Sabbour Consulting was contracted to be an engineering consultant for the project, as part of the company’s plan to cooperate with strong entities in all phases of the project to be developed with quality and specific and distinguished specifications.”

The project constructions are being carried out through Afifi Contracting, a sister company that has strong experience in field of construction and contracting, and has succeeded in constructing many projects for its own benefit and for the benefit of others. This reflects the attention to small details and quality in the project through a company that has a strong precedent in field of construction, Afifi concluded.