Ayman Nawar: We have contracted with LG to implement the electromechanical works for the project and we aim to start delivery by January 2026
Ayman Nawar, CCO of Jawad Developments, confirmed that the company has focused during the past period mainly on construction and progress in implementation significantly to appear in the market in a good way, as Jawad Developments has succeeded in completing about 80% of the concrete works for the Val Plaza project, and the company aims to accelerate the pace of work and achieve high rates in construction works and interior and exterior finishes for the project during the year 2025
Nawar added that the company has succeeded in contracting with LG to implement the electromechanical works for the project, which is a very important step and confirms the company’s interest in cooperating with major specialized companies to come up with a distinctive real estate product
Pointing out that construction work is significantly ahead of schedule, as concrete works have been completed up to the second floor, and delivery is scheduled to begin on January 1, 2026
He added that the project’s sales exceeded one billion pounds, noting that the company is keeping 20% of the project that it will not offer at the present time
Regarding the company’s expansion plan, Nawar confirmed that the company is currently focusing on the West Cairo area, especially with the increase in demand and the shortage of supply of residential and commercial real estate products, noting that the company has contracted for a new plot of land in a distinguished location on a main road in West Cairo to implement an integrated project that includes residential and commercial units, and its details will be announced soon
He stressed that West Cairo is still virgin and thirsty for various projects, whether residential, commercial or service, pointing out that the schools, universities and new roads that have been recently developed have given the West Cairo area relative advantages and increased the volume of demand, and he expects a promising future and major projects on their way to West Cairo during the coming period
He added that the coming period will witness a boom in the West Cairo area, especially after the anticipated global opening of the Grand Egyptian Museum, in addition to the complete development of the area with a network of roads, axes, an airport, and the announcement of new projects in New Sphinx, New October, and New Zayed
Regarding the future of the real estate market in Egypt, Ayman Nawar said that Egyptians have been linked to real estate for decades and are confident that it is an investment and a safe haven, stressing that the customer either buys a property for use and residence or for investment and preserving money, and this has been reinforced by the population increase that has consequently led to an increase in demand for real estate, referring to the global crises that have caused everyone to think of a safe way to preserve value and invest money away from freezing it
He hinted at the state’s role in activating the real estate sector by moving towards urban development, building new cities and communities, and increasing the inhabited area from 7% of Egypt’s area to 14%, and encouraging real estate developers to enter into major projects, in addition to the state’s success in attracting foreign direct investment to the sector and completing major deals, the most important of which was the Ras El Hekma development deal
He stressed that the country’s urban activity has a significant impact on reassuring investors and contributing to attracting foreign investments, in addition to encouraging local investors to double their investments
