Chairman of Scope Company Mohamed Salama Ghabashi and Adly el-Kea’y – Press Photo
CAIRO – 17 March 2019: Scope Real Estate Company plans to pump investments worth LE 150 million during the coming period, an official at Scope clarified to Egypt Today.
The company also signed partnership contracts with Director of Contracting at Al Ahli Club Adly el-Kea’y to become deputy chairman of the company. The contracts were signed by Chairman of Scope Company Mohamed Salama Ghabashi and now-Deputy Chairman of Scope Adly el-Kea’y.
According to the official statement, the company intends to launch new investments in New Cairo and the New Administrative Capital as part of its investment plan.
Chairman of Scope Company Ghabashi said that his company is seeking to implement residential projects that are the first of their kind in terms of spaces and designs as part of its expansion plan in the real estate field.
He added that the company owns a number of residential projects (Florence, Acacia, Lagoya, Scala, Maxi, Rosella, Fiori, Mini Compound, Galeria, etc.) with a total number of about 300 units sold at competitive prices and facilities up to 7 years to suit all needs.
Ghabashi explained that 2019 is the golden year in the real estate market and the first winner is the buyer, clarifying that this is because many developers and investors have to sell at prices close to the cost price or with a small profit margin to provide investment liquidity.
The chairman of Scope expected the prices of real estate units to increase starting from the beginning of the second half of the year in conjunction with the increase in fuel prices as a result of the cut of fuel subsidies, which mainly causes a rise in the prices of basic building materials.
He added that as a result of all these expectations and factors, 2019 is the golden year of residential investment and safe investments, especially after the decline of the dollar and the fall of gold prices.
He also stressed that the company's investment plan includes doubling the current number of its units to hit 600 residential units, in addition to owning a real estate portfolio to help the customers and gain their confidence.