Egypt: Laverde Developments exports over 50% of its properties

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Egypt - Laverde Developments is working on two projects in the New Administrative Capital, La Verde Cassette, and La Verde New Capital. The company is also exploring investment opportunities in attractive areas that suit customers’ needs.

Ibrahim Lashin, the chairperson of Laverde Developments, said that the construction progress of the La Verde New Capital project reached 45%, while the La Verde Cassette project achieved 35%.

La Verde New Capital covers 35 feddan and includes a commercial mall, residential buildings, and villas.

Lashin said that the company participates in international real estate exhibitions to target Egyptian expatriates and foreign clients, and added, “The company’s sales from outside Egypt exceeded 50% of the total sales.”

He noted that Egypt’s real estate market is resilient and can cope with crises, but it requires creativity and diversity in real estate products.

Lashin urged the swift implementation of the initiative proposed by the Egyptian cabinet and the Ministry of Housing to sell real estate in dollars and support exports.

He said that this initiative would increase the foreign currency inflow and reduce the speculation that widened the gap between the official and unofficial exchange rates.