Royal Development begins drilling work with 3 separate projects in the Nargis area of New Cairo

Royal Real Estate Development Company announced the start of construction with 3 separate projects in the Nargis area of the new city of Cairo, with implementation to start in succession during the period from October to next December, with a total area ranging between 450 and 460 meters for one project.

The company has a plan to accelerate the implementation rates of its various projects in order to meet its contracts towards customers. The 3 separate projects include 24 housing units of various areas, and they are fully marketed, and these projects are planned to be delivered in 2023, said Saher Magdy, head of the commercial sector at Royal Real Estate Development.

He added that the company has 9 separate projects in the Nargis area, and has developed a plan to implement them according to the specified schedule, which reflects strong financial solvency and a distinctive sales volume that supports the company's solvency.

He explained that the company has 75 separate and diversified projects, and is currently marketing, and noted that about 25 projects with different payment systems and in diverse areas, the company is seeking to pursue its expansion plan as well as continue with its current projects with outstanding quality and efficiency commensurate with the company's business history and the company's contracts with its customers.

He stressed that the central bank's initiative to provide 3% interest mortgage financing for 30 years stimulates the real estate market, closing the gap between customers' purchasing power and prices, and providing financing for real estate companies, allowing them to reinvest their money in new projects, and solving the problem of a large segment of customers in the market.

He pointed out that the comprehensive urban development currently being implemented by Egypt led to the emergence of a new generation of real estate developers and the emergence of many companies that support the strength of the real estate market and increase its size, and in a way that contributes to the presence of new and innovative ideas in the sector.