Just Development has reported a significant surge in its real estate performance during the final quarter, driven by a strategic focus on rapid execution and strict adherence to delivery schedules. This commitment has bolstered customer confidence and translated into sales figures that exceeded expectations, despite prevailing economic challenges.
Eng. Ahmed Gomaa, Managing Director and Vice Chairman of Just Development, stated that the company’s latest project, (X1) in the Downtown area, has achieved exceptional success since its launch last October. He noted that the first phase was entirely sold out within a few months. Building on this momentum, the company launched the second phase in January, reflecting the robust purchasing power within the Egyptian market and the competitive edge of Just Development’s offerings.
Regarding the executive status of (Legacy), the company’s flagship project, Gomaa highlighted that construction is progressing at a rapid pace. The company is nearing the completion of the full concrete structure, representing approximately 60% of the total construction and investment costs. Due to high demand, 90% of the units have already been sold, with less than 10% of the project remaining available.
Addressing market trends, Eng. Ahmed Gomaa projected a price increase of no less than 10% following the conclusion of Ramadan and Eid al-Fitr. He attributed this anticipated rise to the continuous increase in the costs of building materials and fuel. He emphasized that the current period offers a “golden opportunity” for buyers to secure properties before the next price wave, especially since the market typically experiences relative price stability during Ramadan.
In his closing remarks, the Managing Director reaffirmed that real estate remains the “safe haven” and the ideal vehicle for savings and investment in Egypt, outperforming other volatile assets such as gold and foreign currencies. He concluded that real estate is not merely an investment but a vital consumer commodity with sustainable demand, making it a primary driver of economic development and a powerful hedge against high inflation rates.
