Coldwell Banker targets EGP 1.2bn sales for developers from Next Move exhibition, according to Mohamed Abdalla, chairperson of Coldwell Banker affiliates of Middle East and greater Africa. Abdalla told Daily News Egypt that the company had 15% of last year's Next Move (Cityscape) sales for its clients, which was the highest out of all developers. He said that the Coldwell Banker achieved EGP 800m sales for companies from Next Move last year. He attributed the increase in this year's exhibition sales to the currency devaluation and its effect on construction materials. Abdalla added that in addition to the company being the only broker at Next Move, it is also a broker for all developers and companies participating in the exhibition. Furthermore, the company is providing all its services and information during the exhibition without charging exhibitiors any additional commission, says Abdalla. He revealed that Coldwell Banker targets initial sales of EGP 9bn to reach total sales of EGP 12bn by the end of the current year. He added that his company targets a 30% increase in sales in 2018. Abdalla noted that the company is focusing on marketing Palm Hills Developments, Madinet Nasr for Housing & Development (MNHD), Misr Italia, and other companies. "We expect new launches in the New Administrative Capital such as [projects by] Talaat Mostafa Group and Emaar Properties Group, as we are already working with Emaar on other projects and soon we will market the first phase of its project in the new capital," added Abdalla. "We are focusing now on bids and exhibitions as we are the broker for a new exhibition in Mansour city, Dakahlia governorate next week for offering new residential, commercial, and retail projects."
