Hany Helmy

DIG is expanding in Zayed and New Cairo, with EGP 10 bn investments within 2023

Hany Helmy, Vice Chairman of of DIG, said that his company is adopting an expansion plan in various areas in Cairo, including projects in Sheikh Zayed City and the Fifth Settlement, where the implementation of projects in West Cairo begins with DIG's sister, West Way Developments.

This comes within the framework of the company's strategy towards increasing the company's portfolio of projects after the great success achieved by the projects that were launched in a short period, as the DIG team succeeded in marketing percentages that exceeded the target.

He added that the company has strengthened bridges of trust with customers by adhering to the schedule for each project, in addition to contracting with major operating and management companies to achieve the highest benefit from the projects.

Hany Helmy indicated that DIG has started excavation work for the "Track 10" and "Track 14" projects in the New Administrative Capital, after obtaining drilling licenses.

"Track 10" and "Track 14" projects are located in the most distinguished area of Downtown, near the oil companies and the gold market, with total expected sales of about EGP 1.2 billion.

He pointed out that Track 10 project, commercial, administrative and medical, is located on an area of 2,500 square meters, and consists of a ground floor and 10 floors, and is scheduled to be delivered in 2025.

Pointing out that the company aims to achieve 450 million pounds in sales from the project.

He added that the Track 14 project, commercial, administrative, and medical, is located on an area of 2,500 square meters, and consists of a ground floor and 14 floors, and is scheduled to be delivered in 2025, indicating that the company targets EGP 750 million in sales from the project.

 

DIG Real Estate Development Company has contracted with HRE Properties, a leader in managing and marketing real estate products, to manage and operate its projects in the New Administrative Capital.

Helmy added that DIG succeeded in marketing 80% of the first phase of the Track 12 project in the New Administrative Capital in record time, and the commercial part is scheduled to include activities related to medicine to become a full-service building, explaining that the company contracted with “Healthy Care Group” as a medical operator for the project. Track 12.

 Pointing out that the company obtained initial approvals for the drawings, and drilling permits are being obtained, provided that the constructions will be completed in 2026. Track 12 project is located in the New Administrative Capital in front of pharmaceutical companies, on an area of 2,500 square meters, and includes a ground floor and 12 recurring floors with activities. Commercial, administrative and medical.

Hany Helmy stressed that the company's expansion strategy is an affirmation of the real estate sector's ability to overcome economic crises, as it enjoys the confidence of customers in times of economic tensions, as it is the best and safest investment.

He stressed the need for companies to focus on implementation and adherence to the schedule specified for each project to overcome the crisis of high prices of building materials and the existence of a large gap between unit pricing before the high prices of building inputs and their cost after those large increases so that the developer does not suffer large losses due to the difference between the cost and the final price of the unit.