Khaled Sabry Real Estate Development Company aims to achieve contractual sales of up to 4 billion EGP by 2026, focusing on accelerating execution rates in its various projects. Engineer Khaled Sabry, the chairman of the company, confirmed that the company plans to inject construction investments estimated at around 800 million EGP across various projects, with 600 million EGP allocated specifically for the "Russell City" project.
Sabry noted that the period leading up to the end of 2026 will be a phase of "execution and deliveries," rather than expansion or launching new projects, due to the ongoing challenges facing the real estate market.
Project Details
The "Russell City" project is located in Mostaqbal City and spans an area of 61 acres, with total sales investments estimated at around 24 billion EGP. The project includes approximately 50 residential buildings and 225 villas. The company has completed about 90% of the villa phase, in addition to executing 80% of the lake works within the project.
The company commenced actual implementation of the project immediately after obtaining the necessary licenses, which contributed to accelerating the pace of completion, as the units became ready or nearly ready at the time of launch, enhancing customer confidence and reducing the risks of price fluctuations.
Background & Context
Khaled Sabry Real Estate Development Company aims to deliver 225 villas within "Russell City" by 2026, along with approximately 200 residential units in New Cairo projects, bringing the total targeted deliveries to 425 units during the year. The company has already begun delivering the units.
The starting prices for the villas in the project are 14 million EGP, with areas ranging between 200 and 400 square meters, and payment plans extending up to 10 years. The company also offers a discount of up to 35% for cash payments.
Impact & Consequences
Khaled Sabry Holding has a sales portfolio estimated at around 45 billion EGP, including its ongoing projects in the New Capital and Mostaqbal City, as well as undeveloped lands representing future investment opportunities. This scale reflects the company's financial strength and its ability to continue execution without relying solely on cash flows from sales.
The company has adopted a policy of retaining part of its real estate inventory, holding about 50% of the units in some projects, especially in the Administrative Capital, to hedge against inflation and benefit from rising prices. This strategy has helped the company achieve a balance between liquidity and maintaining asset value.
Regional Significance
The ambitious targets set by Khaled Sabry Company indicate a strong commitment to the real estate sector, particularly in the face of economic challenges. The focus on delivering quality projects while managing financial risks positions the company as a key player in the market.
In conclusion, the company's strategy not only aims for substantial sales figures but also emphasizes the importance of timely project delivery, which is crucial for maintaining customer trust and market stability.