US employment cost index 3.6% up in year to June 2025    Egypt's Suez Canal marks $153b in revenues since nationalisation    Egypt welcomes Canada, Malta's decision to recognise Palestinian state    Pakistan says successfully concluded 'landmark trade deal' with US    Sterling set for sharpest monthly drop since 2022    Egypt, Brazil sign deal to boost pharmaceutical cooperation    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Emtelak's Garawla Islands achieves total sales of $135 mn in two years
Published in Amwal Al Ghad on 21 - 07 - 2016

Garawla Islands project has achieved total sales of 1.2 billion Egyptian pounds (US$135 million) since its start in 2014, according the managing director of Emtelak for Real Estate Development, Ziad El-Emam.
During the side lines of 2016 Elite Real Estate Exhibition (EREEX), El-Emam made those comments adding that his company is currently mainly focusing on the Garawla Islands project, which lies between Ras El-Hekma and Marsa Matrouh.
In addition, El-Emam said that approximately one-third of the targeted 300 million pounds for sales in 2016/2017 has been reached. The funding for the current project was facilitated by personal investments, client instalments, and profits from other projects, he added.
The company also plans to invest in Ain Sokhna, New Cairo and Sheikh Zayed in the future. Yet the company couldn't anticipate the total amount of investments needed to develop these projects El-Emam added. The projects range from recreational developments to commercial and residential units.
Regarding the current obstacles that Emtelak faces, El-Emam said that there aren't a lot of problems in the investment sector and that it is much easier to invest these days than it was in the past.
El-Emam thinks that if there is any change he would like to see concerning investment laws, it would be change in the funding laws because they are usually only aimed at developed projects and not underdeveloped ones.
"It will help the clients more than it will help us because they will be able to have more years to finish their instalments, and the money per instalment would be less," El-Emam said.
He also added that if the government is willing to sell middle-priced lands, Emtelak would be able to offer their clients different prices similar to those for the average consumer, and this could make it much easier for both the company and their clients.
The EREEX 2016 is being held for the first time at the international convention centre under the sponsorship of Prime Minister Sherif Ismail. Many real estate companies have joined this exhibition to display their housing units and real estate consulting services.


Clic here to read the story from its source.