{"id":614769,"date":"2024-02-07T00:00:00","date_gmt":"2024-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/top-real-estate-developers-doubled-their-sales-in-2023-says-the-board-consulting\/"},"modified":"2024-02-07T00:00:00","modified_gmt":"2024-02-07T00:00:00","slug":"top-real-estate-developers-doubled-their-sales-in-2023-says-the-board-consulting","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/top-real-estate-developers-doubled-their-sales-in-2023-says-the-board-consulting\/","title":{"rendered":"Top real estate developers doubled their sales in 2023, says The Board Consulting"},"content":{"rendered":"

The country\u2019s top <\/strong>20 real estate developers saw their sales more than double in <\/strong>2023<\/strong> \u2014 to over EGP 700 bn \u2014 as investors flocked to the real estate market to hedge against a weakening EGP, Cairo-based consulting firm The Board Consulting<\/a> said in a statement (pdf)<\/a>. Global inflation, high interest rates, and geopolitical tensions further grew the buyers' appetite, it said. <\/p>\n

The year\u2019s top sellers:<\/strong><\/p>\n

#1- Talaat Moustafa Group topped the list<\/strong>, with EGP 140 bn in sales, a 322% y-o-y increase.<\/p>\n

#2- Mountain View came in second<\/strong>, with its sales almost doubling y-o-y toEGP 61.1 bn.<\/p>\n

#3- Ora Developers + Palm Hills were tied for third<\/strong>, with sales of EGP 59.5 bn. Ora\u2019s sales were up 207% y-o-y, meanwhile Palm Hills saw its sales rise 129% y-o-y.<\/p>\n

#4- City Edge secured the fourth spot<\/strong>, doubling its sales to EGP 38 bn.<\/p>\n

#5- Madinet Masr ranked fifth<\/strong>, recording sales of EGP 35 bn, up 212% y-o-y.<\/p>\n

The most in-demand destinations: <\/strong>East Cairo was the most sought-after destination in 2023, driven by expansions in Mostakbal City and the new capital. It was followed by the North Coast, West Cairo, and the Red Sea.<\/p>\n

What they said: <\/strong>\u201cWhile there has been a significant increase in sales [value], the sales volumes did not experience the same level of appreciation,\u201d Ahmed Nazmy, chairman of The Board Consulting, said. \u201cSome top developers saw an average increase of 45% in sales volume, while their sales value increased on average by 150% \u2026 Conversely, some developers experienced an average decrease of 25% in sales volume, but their sales value increased by an average of 57%.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The real estate sector saw strong demand as buyers looked to hedge against FX volatility<\/p>\n","protected":false},"author":1,"featured_media":614770,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7371],"tags":[3202,72,7203,154,599,354,83,1517],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-city-edge","tag-enterpriseam","tag-madinet-masr","tag-mountain-view","tag-ora-developers","tag-palm-hills-developments","tag-real-estate","tag-talaat-moustafa-group","wpautop","entry"],"acf":{"mongo_id":"e6fe8171-6a9b-40fa-b4ec-4caac82d737c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/539.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s top 20 real estate developers doubled their sales in 2023, says The Board Consulting","related_issue":[614760],"teaser":"The real estate sector saw strong demand as buyers looked to hedge against FX volatility","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.cb74eae7-ab4e-45e5-a135-0b07a503a31e.mp3"},"yoast_head":"\nTop real estate developers doubled their sales in 2023, says The Board Consulting - 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The project includes residential, administrative, commercial, and recreational units.","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":661269,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/25\/tmgs-net-income-more-than-quadruples-to-egp-14-5-bn-in-2024\/","url_meta":{"origin":614769,"position":5},"title":"TMG\u2019s net income more than quadruples to EGP 14.5 bn in 2024","author":"enterpriseam admin","date":"25 February 2025","format":false,"excerpt":"Revenues jumped 50% y-o-y to EGP 42.6 bn during the year","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/235.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=614769"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614769\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/614760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/614770"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=614769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=614769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=614769"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=614769"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=614769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}