Interview by Abdallah khaled

EMCCU TODAY had the opportunity to interview Mr Farag Ahmed, PR manager of Misr Real Estate Assets Management about their latest developments. 

What distinguishes the company from any other real estate companies?

What distinguishes Misr Real Estate Assets Management is the real estate portfolio and the number of properties that the company owns. It owns most of the properties in Khedive Cairo and the area close it, including locations such as Zamalek, Garden city and Downtown. Moreover, in cases where the company doesn’t own certain properties in this area, it manages them. Notably, no other real estate company in Egypt possesses a real estate portfolio as vast as that held by Misr Real Estate Assets Management, making it the largest institutional property holder in the country.

What are the most important developments that have occurred in the company recently?

We have recently created an application for the company called “Misrrea” and a large company developed it .This application allows customers to pay rent and pay electricity and water bills. It was created to be like “Aqar Map” so that we can display the company’s units for sale and allow other real estate companies to display their units as well.  

What is the importance of PR for the company?

The PR mission in the company is a challenging task due to the need to sell units to customers. Unlike real estate developers who deal with green spaces and upscale compounds, our tasks are more complex because we manage a real estate portfolio that some may perceive as consisting of older properties. Our mission as PR specialists is to enhance the company`s real estate image. Despite having a distinguished real estate portfolio, there is a challenge in improving its public perception.

What are the most important developments that have taken place in the company since Mr. Farag assumed his position?

Since I took on the role of PR Manager, there was a lack of awareness regarding the significance of the real estate owned by the company. The company used to treat them as units for sale and apartments for rent. However, seven years ago, a transformation occurred, and the company started renovating, preparing, and equipping the older properties. This led to an increased awareness of the importance of the real estate portfolio.

What happened in the last auction that was organized?

The last auction organized by the company took place in Alexandria and exceeded its high target. The company is distinguished by its various instalment systems and the delivery of completed units that are not under construction. Therefore, the company`s auctions are highly popular. In the last two auctions, the company sold units worth 150,000,000 pounds.