Wadi Degla Developments announced its 2024 achievements and a bold transformative strategy for 2025 during its annual press conference in celebration of its 20th anniversary since the beginning of its operations in the Egyptian real estate market in 2005. Over this period, the company has welcomed 18,000 Egyptian families to the Wadi Degla communities and has successfully delivered 12,000 units while overcoming many challenges through a strong strategy and a cohesive entity.
Dr. Raymond Ahdy, CEO of Wadi Degla Develpoments, highlighted that over the past two decades, the company’s mission and vision have focused on meeting the evolving needs of Egyptian families through projects that deliver exceptional real estate solutions at international standards. “We affirm our leadership in the industry by remaining committed to offering innovative solutions that enhance the quality of living for our customers and increase a competitive real estate product. As reflected in our slogan, ‘We Build for Your Family”, this philosophy drives us to deliver excellence across our residential, commercial, and recreational projects. Our portfolio of luxurious projects in strategic locations across the country reflects this dedication to creating vibrant, family-centered communities.”
On navigating market dynamics, Ahdy emphasized that Wadi Degla Developments successfully overcame the turbulent challenges faced by the real estate sector in 2024, including the surge in construction costs. “Recognizing the importance of strengthening our financial capabilities in response to these changes, the company has increased its capital from EGP 520 million to EGP 1,149 billion, marking a remarkable growth of approximately 121%. This increase was a complimentary step to our strategy to secure foreign currency, covering import operations, and ensuring continued progress on our projects and capping project delays. Furthermore, we have implemented contingency policies and financial management plans restructuring our spending strategies periodically, which helped secure procurement of raw materials, and finishing supplies necessary to complete projects on time. With its accumulated experience and strong competencies, Wadi Degla’s current team reinforces the company’s journey to achieve its ambitious goals and innovate in the face of market changes.”
In its most significant organizational restructuring announcement, Wadi Degla Developments revealed the separation of EgyConst, its former construction arm, into a standalone entity. Originally established as an integral part of Wadi Degla Developments, EgyConst is now positioned to operate independently, granting it greater flexibility to secure external contracts and expand its client base. “This is more than just a restructuring; it’s about empowerment,” said Raymond Ahdy. “By spinning off EgyConst, we’re enabling it to scale faster and capitalize on construction opportunities in Egypt and further across middle eastern and international markets, which contributes to diversifying the group’s revenue streams and enhancing financial resilience. In a volatile market, standing still is a recipe for failure.”
Also announced was the full integration of EgyPro FME into the new group structure. EgyPro FME, established in 2002 years ago, has built a reputation for itself throughout the past 23 years as a leader in Egypt’s facilities management market. “Over the years, Egypro FME has provided its exceptional services to more than 100 clients and expanded its operations to cover 21 governorates across Egypt. The company now manages over 3.5 million square meters and more than 700 buildings and branches, solidifying its position as one of the largest facility management service providers in the Egyptian market. Reinforcing its commitment to the highest standards of quality and sustainability, the company has earned ISO certifications in quality, environment, and occupational health and safety. Additionally, its membership in both the American and British Facility Management Associations reflects its dedication to global best practices in the field.”
Discussing EgyPro’s enhanced role, Ahdy remarked: “Facility management isn’t just about maintenance—it’s about safeguarding the future of real estate investments. With ROI and long-term sustainability becoming top priorities, EgyPro FME offers unparalleled expertise to ensure assets retain their value while enabling us to build smarter and better. This integration solidifies our position as the most comprehensive real estate player in the market.” Egypro FME now operates as an integral pillar of Wadi Degla’s end-to-end real estate offerings. With a market value of $2.12 billion in 2023, projected to grow at 6.7% annually to $4.05 billion by 2032, the facilities management sector represents a vital growth avenue for Wadi Degla.
Ahdy added that the company’s success extends to significant sales milestones, with Wadi Degla reaching over EGP 5 billion in sales by the end of 2024. Notably, 60% of this figure, amounting to EGP 3 billion, was generated in the first half of the year. In addition, the company delivered approximately 1,500 units across its residential projects in East Cairo and resorts in Ain Sokhna, including over 500 units delivered in the first half of 2024 alone. With an estimated investment of EGP 2 billion in construction, Wadi Degla remains committed to fulfilling its promises. Looking forward, the company aims to deliver an additional 1,500 units in 2025, targeting a sales goal of EGP 10 billion.
“Furthermore, Wadi Degla Developments continues to seek the best real estate investment opportunities. As part of this strategy, the company is consistently evaluating the most attractive areas. Notably, 60 acres in Ain Sokhna have been added to the ‘Murano’ project, with an investment exceeding EGP 5 billion. The company is also exploring new investment opportunities both within and outside Cairo. Additionally, in line with its commitment to supporting national efforts to maximize real estate exports and conserve foreign currency, Wadi Degla strives to maintain sales to foreign residents at 20% annually.”
In regard to its expansion plans, Wadi Degla Developments is looking to expand into foreign markets, particularly in the Middle East and Africa, with the goal of exporting the concept of the ‘Club Town’ project. A partnership has already been established with a Saudi real estate developer, and significant progress is being made on implementing ‘Club Town’ projects in the Kingdom. Further details will be announced in the early months of the upcoming year. The ‘Club Town’ concept integrates sports and social clubs with residential compounds, offering families easy access to a variety of activities without concerns for their children’s safety. Designated gates provide direct access to the residential area, enhancing convenience, saving time, and ensuring a high level of security for children while they engage in sports,” explained Ahdy.
In other news, Wadi Degla capped off 2024 by winning the prestigious Innovation in Human Capital Management Award at the HR Connect conference, hosted by global technology leader SAP in Riyadh, Saudi Arabia. This accolade recognizes the exceptional strides made by Wadi Degla in transforming its human resources practices, driving innovation, and implementing sustainable workforce management initiatives. These efforts, which began years ago, were pivotal in reshaping the company’s image and enhancing its overall organizational excellence.
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