Ahmed Kadri Al Ghitani, the CEO of SAK Developments, predicted that the company will achieve about EGP 200m in sales during Cityscape Egypt exhibition, Invest-Gate reported. Al Ghitani said that Cityscape is the most important real estate exhibition in the Middle East, and the main destination for those interested in the real estate market and who are looking for the best housing and investment opportunities. Furthermore, Al Ghitani added that the company is preparing for the exhibition with a distinctive marketing plan and special offers for customers. He revealed that the company has achieved approximately EGP 150m in sales last year and aims to achieve total sales of about EGP 500m this year. Moreover, he explained that SAK is participating in Cityscape with two projects in the New Administrative Capital (NAC), one residential and the other is an administrative and commercial one. SAK is developing its Sueño Compound on 11 feddan in the R7 at the NAC with a built-up area of 14.8%. The Sueño project includes 12 buildings comprising of 369 units, he noted, elaborating that the company will showcase another administrative and commercial project called Elite in the MU23 in the NAC which spans over 5,500 sqm. He added that the client's view of the market differed during the current period than before as it became more investment-oriented, especially in the NAC, as a result of awareness and confidence in the future of the NAC, as well as the support and encouragement of the state for that national project. Additionally, he welcomed the decision of the Central Bank of Egypt to deduct the interest on deposit and lending by 1%, stressing that it is a catalyst for investors. Noteworthy, SAK has been working since 35 years in the real estate development market as a family business.
