ADC Developments eyes recording EGP 2bln of sales in 2023

ADC Developments eyes recording EGP 2bln 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