Zodiac Development acquires CGD as part of its expansion plans in Egyptian market

In continuation of its series of successes in the Egyptian market, Zodiac Development Holding Group, one of the leading real estate development companies, announced the acquisition of Capital Gate Development (CGD), as part of Zodiac’s plans to expand and direct more investments into Egyptian market.
Chairman of Zodiac Development Eng. Hassan Hassanein said that the company is very confident in the strength of Egypt’s real estate sector, especially New Administrative Capital (NAC).
Hassanein added that his company has acquired CGD to increase the volume of its business and investments in local market and in support of the state’s plans and efforts to expand urbanely and launch fourth-generation cities.
He pointed out that Zodiac has succeeded in achieving a clear imprint in New Capital market through its two projects, Mizar and Mizar 2, in the most prestigious areas at NAC’s Downtown.
He further noted that the NAC is still at the top of investment destinations in the Middle East and enjoys very promising investment opportunities, especially with the government moving to its new headquarters in government district at New Capital.
For his part, Eng. Ahmed Fares, the company’s CCO, said that Zodiac’s acquisition of CGD serves the company’s goals and strategy to increase its share in local real estate market, especially in the New Capital.
Fares added that Zodiac has managed to sell 80% of Mizar and Mizar 2 projects units, pointing out that the company is keen to choose a distinguished site for its projects after extensive studies of future of investment in the region.
Ge noted that Downtown area is the best investment area in the NAC, and it is expected a more launches and developments in the region next year.
Meanwhile, Mohamed Hefnawy Zodiac Development’s Marketing Director stated that real estate sector remains the best investment and is safer and more stable than other economic sectors, especially in light of the repercussions of the global economic crisis on various markets of the world.
Hefnawy disclosed that the company is always keen to meet aspirations and desires of customers and seize investment opportunities in the market, pointing out that Zodiac is entering the competition race in the New Capital market by offering an innovative and unconventional real estate product.