Wadi Degla to hike prices and extend payment terms
Wadi Degla for Real Estate Development is planning to pass on price increases over the rest of the year, as well as increase its land bank via buying new plots or entering revenue-sharing agreements. The company is targeting EGP5bn in contracted sales in 2017, through selling over three thousand units, and is planning to launch two new projects in the West North Coast and Hurgada. According to Deputy CEO, Amr Elkadi, the company extended its payment terms to nine years from seven for contracts closed during the Cityscape exhibition.
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