Eng. Ahmed Mansour: cred sheds light on opportunities for hotels with international management in West Cairo during MIPIM 2023

In a short time، “cred Developments ” captured the attention of customers inside and outside Egypt as a result of the extended experiences of the company’s founders for several years of working in the construction sector and implementing major projects in Egypt and the Arab world.

 cred  has been keen to participate in local and international exhibitions to grab investment opportunities in Egypt and emphasize that the Egyptian market’s owning a large base of trustworthy and remarkable real estate companies.

Eager to participate for the 2nd time in MIPIM، the world’s largest exhibition، as Egypt’s presence is crucial for the continuation of the development movement

For the second time in a row، “cred” participates in MIPIM، which is the largest real estate exhibition in the world، as part of its commitment to assert the strength of the Egyptian market.

cred’s expansion plan this year 2023

Eng. Ahmed Mansour، CEO of “cred”، announced the company’s expansion plan during the current year، which aims to search for new lands in East Cairo and the North coast.

It is necessary to provide more facilities and procedures that are prompt and clear to attract foreign investment

He stated that Egypt’s participation in MIPIM 2023 is essential to completing the successful outcomes in the previous two rounds in which Egypt participated، boosting the trust of foreign investors and highlighting the ongoing development movement and construction in Egypt.

Various opportunities

Negotiating with 5 leading international companies to manage the hotel of ever project in West Cairo

He declared that the company is aiming to attract investment opportunities for foreign Investment funds and investors in “cred” projects during the MIPIM 2023، including a hotel and hotel apartments at the New Administrative Capital NAC in East Cairo، pointing out that negotiations are currently underway with 5 major international companies to manage the hotel which is part of the “ever” project in West Cairo.

Aiming to expand in East Cairo and the North Coast this year

“cred” is developing “CLM - Castle Landmark before” project in the residential neighborhood R7 in the NAC on an area of 43 acres near the Green River and many major landmarks، and 1800 housing units apart from 196  administrative and commercial units “Castle Gate.”

Also، the company is developing the “East Side” mixed-use project in the MU23 area of the NAC، on an area of 7600 sqm، with investments of EGP 800 million، in addition to a commercial project “COM16” that will be offered for rent in the downtown area، NAC.

Extraordinary investment opportunities in Egypt

Mansour explained that the last participation of Egypt and real estate companies in the MIPIM 2022  exhibition in the past year revealed to the world that Egypt possesses great investment opportunities and various projects.

On the grounds of this، the presence of Egypt this year is necessary to indicate the growing volume of development and investment movement in Egypt despite the major challenges that the world encounters recently، as well as the increased willingness of foreign investors to direct their investments towards the Middle East، which is a great opportunity to promote the investment opportunities in Egypt and attract foreign capitals.

Advantages of Egypt

He affirmed that Egypt has many qualities that make it the best choice for investment، including a pretty large market، the largest population in the Middle East، and a guaranteed and rising return on real estate investment.

Egypt is a massive market with many advantages، making it the best choice for investment، including high returns، political stability، and natural and historical factors

This is in addition to Egypt’s political and economic stability، the diversity of its products، and the presence of reputable businesses with knowledge and expertise.

Added: “With its views of the Red and Mediterranean seas، moderate weather all year long، and a wide range of tourist attractions and historical sites، Egypt benefits from the beauty of nature.”

Required procedures

He affirmed the necessity of providing more facilities to attract foreign investments، prompting the completion of government procedures، and clarifying the required steps from the investor to start an activity or to buy land or a unit.

Mansour expressed the need to find a solution for the challenges faced by the investor in registering the property، noting the necessity for businesses to research the needs and demands of foreign customers in order to provide a convenient product that meets their needs in terms of spaces، finishes، and others.

Real Estate Market in 2023

The cost of the project has increased by at least 40% since the release of feasibility studies

He stated that the projects’ cost has increased from those in the feasibility studies by no less than 40% as a result of the recent changes in the prices of raw materials، transportation، and all the implementation inputs of real estate projects.

He said that the demand for real estate is growing، as medical، commercial & administrative units are highly in demand. Adding، the company will start delivering its “CLM” project in the New Administrative Capital next May.

Cred Launched its first projects in West Cairo

In 2022، “cred launched “ever” project، its first project in West Cairo، built on an area of 40 acres، in partnership with the New Urban Communities Authority.

With a total investment of EGP 9 billion، ever has a privileged location on the 26th of July Corridor next to Mall of Arabia، as a residential، commercial، administrative، medical، and hotel project، consisting of 42 buildings، including 36 buildings، and it is implemented in 4 phases.