Hany El Hag, sales manager at Al Bostany for Real Estate Development said that the company has recorded EGP 100m in sales during the first half (H1) of 2019, although the company targeted achieving sales worth EGP 250m.
El Hag added that the buying and selling movement in H1 of the current year was weak and unstable, but H2 of the year is booming and the company aims to reach sales volume of EGP 350m during 2020.
He pointed out that Al Bostany has 30 diverse projects, including residential, administrative, and commercial in the Fifth Settlement, New Cairo, and Maadi, adding that by the end of this year the company will begin marketing new projects.
Moreover, he pointed out that in 2020 the market will witness a state of stability as a result of the stability of the political and economic situation in Egypt. Furthermore, he added that there is great momentum in the real estate market, as a result of a package of projects that have been offered by the state, especially fourth generation cities, namely the New Administrative Capital, New Alamein, and New Mansoura.