Engineer Mohamed El Haddad, Chairman and CEO of MODAD Real Estate Development, announced the company’s continued commitment to delivering an exceptional customer experience through innovation, market analysis, and listening to client feedback. This announcement coincides with the launch of Phase 3 of the “Sector” project, following the successful sale of approximately 95% of the units in Phases 1 and 2.
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Egypt’s Vision 2030 and Sustainable Development
El Haddad emphasized that Egypt’s Vision 2030 serves as a roadmap for the country’s future across various sectors, including real estate. This vision focuses on sustainable development by creating integrated urban communities, enhancing infrastructure, promoting social inclusion, and protecting the environment. MODAD has aligned its strategy with this vision, playing an active role in developing sustainable real estate projects that reduce energy consumption and are environmentally friendly.
“We at MODAD fully understand the importance of sustainable development in the real estate sector. Our projects aim to balance urban expansion with environmental protection, ensuring that our developments meet the nation’s strategic goals,” said El Haddad.
Integrated Engineering Model and Extensive Market Experience
MODAD boasts over 13 years of experience in the Egyptian real estate market. Over these years, the company has developed a robust portfolio of successful projects across various governorates. MODAD follows an integrated engineering model, focusing on delivering innovative architectural solutions that cater to evolving customer needs and provide comfortable and sustainable living environments.
El Haddad highlighted that the company’s strategy focuses on delivering high-quality projects that bolster client trust, reinforcing MODAD’s position as a leader in the real estate development sector.
Flexible Payment Plans and Exclusive Offers for Sector 3
As part of its innovative approach, MODAD has introduced flexible payment plans for its Sector 3 project. These plans include:
- 15% down payment with equal installments over 7 years.
- 20% down payment with equal installments over 8 years.
- 30% down payment with equal installments over 10 years.
- 30% down payment with 4-year installments and a 29% discount.
- 30% down payment with 5-year installments and a 25% discount.
- 45% discount for cash payments within 3 months.
These flexible options are designed to cater to various investor and client needs, providing opportunities for more affordable real estate investments.
Proptech and Real Estate Technology: Driving Innovation and Quality
A key factor behind MODAD’s success in the real estate market is its focus on integrating Proptech (property technology) into every stage of its projects. The company utilizes the latest technologies in design, construction, and even marketing, improving the quality of its developments and enhancing customer experience.
El Haddad pointed out that MODAD prioritizes technology adoption to streamline construction processes and ensure that projects are completed efficiently. The company also maintains continuous communication with its clients to guarantee their satisfaction post-sale, further reinforcing the importance of technology in real estate development.
Innovative Design and Strategic Location for Sector 3
The Sector 3 project is strategically located, overlooking the Central Bank of Egypt, which significantly enhances the investment appeal of the development. The project features three main entrances, reducing walking distances between parking areas and office spaces. Unit sizes range from 38 to 150 square meters, with the building designed to accommodate multi-use spaces.
The project consists of three buildings, with the ground floor designated for administrative offices, and office spaces spread across the first to seventh floors. The development also includes two underground parking levels, providing additional convenience for residents and businesses.
Success of Sector Project: 95% of Units Sold in Phases 1 and 2
Following the remarkable success of Phases 1 and 2, where 95% of the units were sold, El Haddad announced the launch of Phase 3 of the Sector project. The strong demand for units reflects the trust clients have in MODAD and the high quality of the company’s developments, prompting further expansion.
Challenges Facing the Egyptian Real Estate Market
Despite the significant growth in Egypt’s real estate sector, El Haddad acknowledged that several challenges continue to affect the industry’s stability. Among the most prominent challenges are rising raw material prices, such as steel and cement, which increase project costs and impact final unit prices.
Additionally, high inflation rates have eroded the purchasing power of many citizens, limiting their ability to invest in real estate. El Haddad stressed the need for enhanced collaboration between the government and the private sector to develop innovative solutions and streamline procedures, thereby fostering stability and sustainable growth.
Strategic Partnerships on the Horizon
El Haddad also revealed that MODAD is currently exploring several strategic partnerships, which are expected to bolster the company’s market position. These partnerships, which will be announced in due course, aim to support MODAD’s growth and create more investment opportunities.
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