Diarna Real Estate achieved sales worth EGP 800m for several developers by the end of November, according to Reda El Minshawy, head of the projects department. El Minshawy told Daily News Egypt that the company intends to achieve EGP 1bn sales by the end of the current year. Additionally, he noted that Diarna plans to establish a new branch in Dubai next year, as part of real estate companies’ extending their projects’ marketing abroad, in addition to attracting Egyptians to acquire properties. He called for the partnership between the state and the developers to implement housing projects for this large market’s segment. The government should provide lands at affordable prices for developers, in order for developers to achieve a profit margin and to sell units at prices suitable for the financial capabilities of the middle-income class.

Source: Daily News Egypt December 17, 2018 06:33 UTC