Arab Developers records EGP 5.3B in 2023 contractual sales
Updated 3/12/2024 12:41:00 PM
Arab Finance: Arab Developers Holding (ADH) has achieved contractual sales of EGP 5.3 billion in 2023, climbing by 203% from EGP 2.6 billion in 2022, according to an emailed press release.
The company also turned to profitability, with a net profit of EGP 100 million, versus a net loss of EGP 18 million in 2022.
In 2023, the company succeeded in selling 1,819 units and delivering 654 units,
"We have developed a long-term strategic plan to develop our existing project portfolio by doubling our annual investment volume to accelerate implementation rates while adhering to the highest quality standards," Ayman Khalifa, CEO of ADH, said.
"We intend to complete the development of the Dead Sea project and begin the Agadir Project as soon as the official procedures for this promising project are completed,” Khalifa noted.
He also added that the company is exploring new investment opportunities to expand its land portfolio through acquiring new lands in New Cairo and the North Coast.
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