Egypt - ADC Developments intends to achieve EGP 2bn in sales next year by implementing its expansion plan to launch two new projects, according to a statement by Chairperson of ADC Developments Haytham Afifi on Saturday.

The chairperson said that the new cities that the state is currently developing promise investment opportunities for all serious companies, noting that the company has succeeded in executing a large number of separate projects in New Cairo, Heliopolis, and Nasr City.

Furthermore, the company has developed two tourist resorts in Sharm El-Sheikh, in addition to the Katameya Breeze project in New Cairo.

Afifi added that the company aims to expand in either the New Administrative Capital (NAC), New Cairo, or the North Coast, as the company is still studying a number of distinguished investment opportunities that achieve diversity in its portfolio of projects and meet the needs of its customers.

He noted that ADC focuses on conducting market studies that link its developed properties and target customers.

He also pointed out that the company is currently developing the Vera Tower project in the NAC with investments of up to EGP 500m.

The tower is an administrative commercial project, the first phase of which was sold out in record time. Moreover, the company is currently launching the second phase of the project with competitive spaces and payment plans.

“The company began carrying out excavation work on the project, and Sabbour Consulting was contracted to be an engineering consultant for the project as part of the company’s plan to cooperate with strong entities in all phases of the project to be developed with quality and specific and distinguished specifications,” Afifi explained.

The project’s constructions are being carried out by Afifi Contracting — a sister company that has strong experience in the field of construction and contracting and has succeeded in constructing many projects for its own benefit and for the benefit of others. This reflects the attention to small details and quality in the project through a company that has a strong precedent in the field of construction, Afifi concluded.

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