Egypt’s Inertia signs $105mln construction contracts for its projects in 2022

Egypt’s Inertia signs $105mln construction contracts for its projects in 2022

Egypt’s real estate developer Inertia signed construction contracts worth EGP 2bn for the development of its projects in 2022, according to the company’s CEO Ahmed Al-Adawy.

Al-Adawy added that the company is planning on delivering 1,600 units across various projects. Moreover, as part of the company’s plan to maintain the confidence of its customers and maintain their satisfaction, 800 units have been delivered across all Inertia projects so far.

He also noted that the company’s current portfolio includes eight developments that span across Cairo, the Red Sea, and the Mediterranean, offering residential properties, a fully integrated town, as well as cutting edge health care and commercial facilities. To date, four of these projects have been completed and delivered and four are currently under construction.

Furthermore, he stressed that the real estate market has faced several challenges since the beginning of this year, but the governmental support and the flexibility of companies in dealing with these changes, in addition to the presence of real demand, were key factors in maintaining the sector’s strength.

Additionally, Al-Adawy noted that the company aims to achieve contractual sales worth EGP 4bn in its projects for the current year and has achieved the target of this plan during the first