Egypt's leading real estate developer, Wadi Degla Developments is set to launch three investment projects in the Western North Coast, Ain sukhna and Hurghada during the second half of 2016, according its Chairman Maged Helmy said. Helmy made those comments during his speech Elite Real Estate Exhibition (EREEX) 2016 which is held between 19 and 23 July at the Cairo International Convention Centre. The company is participating in the Elite Real Estate exhibition to present its integrated vision for real estate development in Egypt during the coming period, Helmy noted. In addition to presenting seven of its projects in Egypt such as Neopolis, Murano Ain Sokhna, Blumar El Sokhna, and Blumar Hurghada. He added that his company has increased its capital twice in two years; the capital was raised from 170 million to 500 million Egyptian pounds in the 2015 , while it was increased from 500 million to 800 million pounds the 2016. Furthermore, Wadi Degla Developments, a component of Wadi Degla Holding Company, is currently developing 17 real estate projects as part of its goal to help achieve economic development. These projects focus on a number of key areas, both residential and touristic, including Blumar El Sokhna, Blumar Hurghada, Blumar Hills, Murano Ain Sokhna, Blumar Sidi Abdel Rahman in North Coast, and Blumar El Dome. Aside from these new development projects, Wadi Degla Developments delivers a wide array of real estate products and services to its customers. The company's residential projects include the Pyramids Walk, River Walk, Tijan Zahraa El Maadi, Tijan El Maadi, Canal Residence, Victoria Residence, Promenade October, and Promenade El Maadi. This is in addition to Neopolis and Magawish resorts. The company's land bank is 6.5m sqm that spans across seven regions. It has acquired more than 70% of the land in east Cairo and has constructed 30,000 residential units. Moreover, Helmy said that the company's participation in EREEX 2016 reflects its expansion plan at the regional level especially in the Gulf region, which represents one of the highest areas of demand for real estate units in the Egyptian market.
