Castle Development changes company name to “cred”


Castle Development, a leading company that focuses on the development of high value real estate, recently announced that it has changed its company name to ‘Cred’. The rebranding came to comply with the new strategy and above all the new vision of “credibility” to keep pace with market changes and modern global trends in the field of real estate developments.

“cred”, is preparing to launch its new mixed-use integrated residential project which will span an area of ​​40 acres in a very prime location in Sheikh Zayed in the western region of Cairo. In addition, it is currently seeking to diversify its investment options in many vital and strategic areas of the country, east of Cairo and on the north coast, in order to realize its ambitious expansion plan and its new vision aimed at present to its clientele a modern and exclusive offer of first class, sustainable and safe communities, building on the great successes it has achieved in recent years, which have enabled the company to achieve its objectives of sales despite the challenges and to maintain a solid customer base that trusts the “credibility” and its great abilities to provide unique and innovative services. produced through the milestones they witness in its flagship project “Castle Landmark” in the New Administrative Capital.

The innovative new “cred” vision is designed to keep pace with market changes and modern global trends, so it reflects a new business movement. Consequently, the company has sought over the past period to make a huge leap in its executives, hiring a distinguished group of property development skills and expertise, to ensure continued success, significant improvement and quality of offerings with which the company started.

Commenting on this important step, Engineer Ahmed Mansour, CEO of “cred”, underlined: “We seek to build on the great successes we have achieved in recent times, especially in our pioneering project in the New Administrative Capital , the capital of the new Republic, the most important and largest national project in the country, thanks to an integrated vision and strategy, during which we increase our business volume and strengthen our presence in the Egyptian real estate market in the coming period, that’s why we thought to enter a vital market and a very important destination like the West of Cairo, more precisely in the Sixth of October city, to develop our latest projects.

“We will work intensively in the coming period to make our ultimate efforts as usual to add value to the Egyptian real estate market, diversify the geographical presence of our projects in the country and present a new vision in the world of development. Therefore, we have invested in our human resources by bringing in a group of executives who have exceptional experience in the real estate market, to join the great experiences of the managers of the company, who have had great credit for the achievements made in the past period, believing that work teams within companies are one of the most important aspects of a successful investment.

“cred” has been able to achieve total sales of more than EGP 4 billion in its flagship and largest projects, “Castle Landmark” in the New Administrative Capital, out of a total target of EGP 5 billion, since launch of the project, including the contracted sales of EGP 1 billion in the past year 2021 for the residential area in addition to the EGP 200 million of sales made for the commercial part “Castle Gate” Mall.

“Castle Landmark” is a mixed-use project spanning over 43 acres of land with a total investment of EGP 3.7 billion, introducing an integrated and intelligent residential complex, comprising 1800 residential units in addition to 196 units administrative and commercial “Castle Gate”.

“cred” launched the 5th phase of “Castle Landmark” last year 2021, with a total number of 500 units which are currently marketed. The delivery of the 1st phase is scheduled for the last quarter of this year, then the deliveries will be made according to the schedules, with a delivery phase every 6 months to complete the delivery of the whole project by December 2024.

“Castle Landmark” provides an integrated set of services that meet all the needs of its customers and provide them with an optimal living environment. It also includes the commercial and administrative area with the “Castle Gate” shopping center, which is located on an area of ​​20 acres with a total investment of 700 million pounds and the number of units of 196 units, and includes commercial activities and administratively, the construction works are in progress in the project completing the excavation works.

“East Side” is the 2nd “credibility” project in the New Administrative Capital, an administrative, medical and commercial project in the MU23 district with a total investment of 800 million pounds, scheduled to launch in the second half of the year. current year 2022 The company aims to achieve contract sales of £400 million from the project during this year, and it includes medical and administrative spaces and retail stores. The project relies on solar energy to meet 50% of its energy demand.

Excavation work is complete in “East Side”.

“cred” focuses on the development of high-end real estate projects in Egypt, including residential, commercial and administrative developments. Since its creation, cred has made it a priority to offer its customers unique services; high level projects and smart solution, thanks to strategic planning and innovative vision.



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