Al Ahly Sabbour Real Estate Company aims to achieve contractual sales of 27 billion EGP this year as part of its expansion plan in the Egyptian real estate market.
Engineer Ahmed Sabbour, the chairman, stated in remarks to 'Al Borsa' that the company intends to inject investments worth 18 billion EGP into construction activities across its various projects during 2026, aiming to accelerate execution rates and adhere to delivery schedules.
Event Details
The company targets the delivery of approximately 1000 residential units this year, noting its success in delivering around 4500 units over the past two and a half years. These achievements reflect the company's strong execution capacity and commitment to its clients.
Sabbour confirmed that the Egyptian real estate market still retains its strength and cohesion despite current regional challenges, explaining that the most significant impact has been the rise in production input costs due to increased energy prices, including gasoline, diesel, and gas, which has led to a 15% increase in execution costs.
Background & Context
Historically, the Egyptian real estate market has not experienced sharp price declines, as real demand remains strong. Sabbour pointed out that there are no indicators of a decline in property prices in the local market, reflecting the sector's stability under current conditions.
Regarding the real estate export file, Sabbour explained that the stability and security Egypt enjoys represent a key attraction for foreign investors, predicting a significant boom in sales along the North Coast during the upcoming summer season, coinciding with a revival in tourism and increased demand from Egyptians abroad, Arabs, and foreigners.
Impact & Consequences
Property purchase remittances from abroad recorded about 1 billion USD last year, compared to 700 million USD the previous year, reflecting the growing attractiveness of the Egyptian market to international investors. These figures indicate that the Egyptian real estate market remains a preferred destination for investors.
The company continues to implement an expansion strategy aimed at entering new areas within the local market, supporting the growth of its project portfolio in the coming years.
Regional Significance
The strength of the Egyptian real estate market is a positive indicator for the Arab region, as it can encourage foreign investments and contribute to enhancing economic stability. Under current conditions, Egypt is one of the few countries still attracting investments in this sector.
In conclusion, the challenge for Al Ahly Sabbour remains how to cope with global and local economic changes, but current trends indicate a promising future for the Egyptian real estate market.