◗❙ “Hassan”: An expected collaboration with “Credit Agricole”, “CICI” and “Qatar National” banks to activate financing
◗❙ The Administrative Capital is at the forefront of clients’ requests, followed by “New Alamein”, “Zayed”, “Al Tagamoa” and “Al Galala”
Ahmed Hassan, vice chairman of the board of directors of Watad Capital for Real Estate Marketing, revealed that the company achieved sales to the benefit of others, which were estimated at 1.5 billion pounds by the end of 2021, setting the target at 50 million pounds exceeded.
And he added, in exclusive statements to Al Mal, that “Watad Capital” aims to achieve sales of up to £ 4 billion by 2022.
He explained that 40% of the company’s sales in the past year were controlled by Arab and Egyptian customers abroad, while the rest went to the Egyptians.
He said most of the company’s sales were concentrated to Arabs in the UAE, followed by Saudi Arabia, then Kuwait, Qatar and Yemen, in order.
Watad Capital planned to add a real estate development arm during the first quarter of 2022, in addition to the company’s main activity in light of its expansion plan, but in light of the sector’s vulnerabilities of instability, which stemmed from the Russians -Ukraine war, and the inflationary wave, have postponed the company Its plan is until conditions in the market stabilize and the vision becomes clear, according to Ahmed Hassan.
Hassan added that his company prefers to launch real estate projects between New Administrative Capital and New Alamein City, as its first real estate development projects.
He pointed out that “Watad Capital” negotiates with 3 different private banks, “Credit Agricole”, “Qatar National Al Ahli” and “Tijari International” to provide units that meet real estate financing standards, and the client to the bank directly.
Watad Capital signed a co-operation protocol with Qatar National Bank more than two years ago, as the company’s first step in adopting the state’s strategy and moving forward in its plans to support real estate financing.
On the payment methods that customers follow, Hassan explained that consumers – especially after Corona – prefer payment methods through long-term payments, while a small group prefers to pay cash.
Among Watad Capital’s key clients are Palm Hills, Tatweer Misr, Inertia, Castle Landmark and El Attal Group.
He explained that “Watad Capital” deals with the investor through the real estate portfolio system, as the company conducts market studies for the benefit of real estate developers, from the selection of the project’s land and the most suitable activity for it and the calculation of profits, to target customers and market the project.
Watad Capital is working on marketing the units of real estate developers, in addition to the units for the residents.
Watad Capital plans to participate in two real estate exhibitions in the cities of Sheikh Zayed and October 6 by the last quarter of 2022, in addition to participating in an exhibition in one of the following countries, namely the UAE, Saudi Arabia and Qatar. .
Regarding the areas that experience the most demand from customers, he stressed that the New Administrative Capital is at the forefront of cities in terms of the most demand in the Egyptian market, followed by New Alamein City, Sheikh Zayed, Fifth Settlement, and El Galala, respectively.
Regarding the quality of projects that receive a high demand from customers, Hassan pointed out that administrative commercial projects, one of the types of real estate products in the market, capture most of the demand in the real estate sector by 60%, due to the large number of proposals therein.
He pointed out that the commercial and administrative units are receiving noticeable attention from the various development companies, due to their high profitability during the current period, in addition to the increased demand for it by customers.
Hassan stressed that the return on investment in real estate in the Egyptian market is higher than that of neighboring countries, which supported the entry of Arab and foreign investment into the market, pointing out that the sector has not moved in recent times , but the state’s plan now is to put in place controls to regulate the market that will work on its momentum and development. .
The real estate market did not catch its breath from the previously deteriorating conditions, which began with the flotation of the pound in 2016, with the outbreak of the Corona virus at the end of 2019, affecting global stagflation, the Russo-Ukrainian war and the supply chain crisis, and eventually the central bank raised interest rates by 100 basis points, and the value of the Egyptian pound depreciated against the US dollar, making the real estate sector above all sectors in terms of most affected by these challenges. , which has hampered the healthy growth of that industry.
Hassan said: “The Central Bank’s decision to increase the interest rate by 1% supported the idea that property is currently the safest investment. Given the fall in the value of the pound against the dollar, investors have no choice. but to go to real estate to save their money from deterioration, and if it stock of value.
He stressed that sales rates rose by 90% after the interest rate hike decision, as customers rushed to buy, to get the units at their old price before the other expected hike after that decision.
He added that all the crises facing the real estate market are coming to filter the sector from weak companies, which do not have good financial solvency to help them withstand sudden price increases and global recession.