Wadi Degla Developments Delivers 1,500 Units in 2024, Boosts Capital by 121%

Wadi Degla Developments, a well-known real estate company in Egypt, celebrated its 20th anniversary in 2024. Over the last 20 years, the company has become an important part of Egypt's real estate market. They have built 12,000 homes and helped 18,000 families move into their new houses, even though the real estate market faced many challenges.

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Raymond Ahdy, the CEO of Wadi Degla, spoke about the company’s goals and future plans. He said that their mission is to offer great housing solutions for families in Egypt, and they always work to meet international standards. Despite the rise in building costs in 2024, the company stayed focused on delivering good value for its customers.

To handle the financial challenges, Wadi Degla decided to increase its capital by 121%, raising it from EGP 520 million to EGP 1.149 billion. Ahdy explained that this will help the company continue its projects without any delays. The extra capital will also help the company buy the materials needed to keep building at a steady pace.

Wadi Degla also made changes to improve its operations. The company decided to separate its construction arm, EgyConst, and make it an independent business. This will give EgyConst more freedom to grow and take on new contracts. It also allows Wadi Degla to expand more easily in Egypt and other countries.

Additionally, Wadi Degla brought its facilities management arm, EgyPro FME, into the main company. This branch takes care of over 700 buildings and 3.5 million square meters of land in 21 areas across Egypt. By doing this, Wadi Degla is becoming a leader in the growing business of facilities management, which is worth over $2 billion and is expected to grow even more in the coming years.

In 2024, Wadi Degla made over EGP 5 billion in sales, with EGP 3 billion earned in the first half of the year. The company delivered about 1,500 new homes, including 500 homes in the first half of 2024. They have invested EGP 2 billion in construction and plan to build another 1,500 homes in 2025, aiming to make EGP 10 billion in sales.

Looking ahead, Wadi Degla is looking for new opportunities both inside and outside Egypt. One major project is expanding the Murano project in Ain Sokhna, with an investment of more than EGP 5 billion. The company also wants to keep sales to foreign buyers at 20% each year to help Egypt’s economy by earning more from real estate exports and saving foreign currency.

Wadi Degla is also planning to grow in the Middle East and Africa. The company is working with a Saudi developer to build projects in Saudi Arabia. More information about these plans will be shared soon.

With a clear focus on growth and a commitment to high-quality housing, Wadi Degla continues to strengthen its position as a leader in Egypt’s real estate market.

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