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Engineer Ahmed Abddelsalam the real estate expert assigned a bundle of suggestions which support investors’ direction to execute new projects in the new administrative capital. These suggestions help to keep the performance of the investors in the new capital at high levels in conjunction with holding the committee of land pricing in the administrative capital.
He declared that the suggestions are about forming a team to coordinate between investors and the company of new administrative company to assign new financial ways to pay land’s installments align with developers’ plans and their execution schedules.
He suggested to expand the land installments period to six years instead of four with the ability to extend the period according to the projects’ size, adding “providing a flexible financial methods help the developers to execute and keep their commitment to pay land installments”.
He pointed to the rise of building materials prices and the impact of that on execution plans’ cost which is not included in the feasibility studies, demanding the administrative capital company to fix the land pricing for at least six months as the development goal is one of the country’s goals.
He said that it is possible to extend the partnership model in return for an in-kind share for the administrative capital company which means that the developer pays part of the land’s price and meanwhile the rest of land’s cost would be a part of the project returns to the administrative company which is a win win scenario for the developer who reduced the financial burden and for the country as getting renewable and miscellaneous returns.
He added that the developers’ who already executed a large proportion of their projects and approved they are serious could get a way to reschedule their installments and get more time to pay which would provide financial liquidity helps to reduce the financial burden and complete their projects in time without any burdens.
He confirmed that all country’s entities cooperate to support the macroeconomic and all economic sectors which could be a good base to create a new cooperation between new administrative capital company and the Centeral Bank to finance real estate project with the credit of projects’ land.
He pointed “categorizing the real estate developers according to their financial situation and technical experience is a must” he added “the projects’ execution rates also is an important indicator” he asked to announce these factors as an indicator to help the clients to choose the developers according to clears facts which would help at the end the whole real estate scene.
He suggested to ssubtract lands under the usufruct system which would help attracting new segment in the administrative capital and at the same time provide a renewable financial returns to the administrative capital company.
Ahmed Abdel Salam held a number of positions that support his strong experience in field of real estate development, including the head of Etad Properties in Saudi Arabia. He took the position of development manager for Bagri Group for Real Estate Development in Makkah, furthermore, he served as a real estate development consultant for a number of companies in Egypt and Saudi Arabia.
© Press Release 2021
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