رئيس مجلس الإدارة والمجموعة التنفيذية لشركة بالم هيلز للتعمير المصرية لـ CNBC عربية: حصلنا على قطعة أرض جديدة والاستثمارات وصلت إلى 300 مليار جنيه
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00:00 The inflation has a positive impact on sales.
00:06 Sales are very high for us and all the developers.
00:10 Because this is the way people try to avoid inflation and increase the price of the dollar.
00:18 Of course, any developer is selling well.
00:21 You will find that all the numbers are very good.
00:23 Of course, the numbers are not a condition that is reflected in the budgets.
00:26 Because the real estate sector is the budget that does not reflect the sales.
00:31 Because you admit when you sell the unit, not when you sell the unit.
00:36 But of course there is a risk for developers.
00:38 There is a risk that he sells on off-plan and then builds.
00:45 So of course there is a risk that the prices will increase more than expected or more than his calculations.
00:50 In addition to inflation, there were also lows in local businesses.
00:53 How do you see how the local businesses have dealt with the low prices?
00:56 And has the increase in the prices of the real estate units in the past period reflected?
01:00 Of course, the units prices have increased in the past year.
01:03 The prices of the construction, the prices of most of the materials have increased by more than 120%.
01:11 If we look at iron, cement, aluminum, copper, all things have increased.
01:18 This of course makes it a very big challenge for developers.
01:24 How can they keep the total or half of their profits?
01:29 How did the real estate companies deal with the prices?
01:31 In fact, we dealt with it in many ways.
01:33 One, we do not sell all of the new units.
01:38 And we keep about 10% of the results.
01:43 If there are a thousand units, there will be a hundred units that will not be sold until the project is completed.
01:47 This is the situation we are in.
01:51 We try to buy some things in advance, such as iron, aluminum, and many other things.
01:59 We buy in advance.
02:01 We have increased the production cost in a very good way.
02:05 In 2023, we doubled the production costs by 22%.
02:11 This also reflects the cost of sales.
02:14 In fact, you sold about 35 billion pounds in 9 months.
02:17 Is this a target or expected amount to close this year?
02:20 No, we did not announce it yet, but it is more than 35 billion pounds.
02:24 We actually announced 35 billion pounds, but it was 9 months.
02:29 But we have now exceeded these numbers.
02:31 In fact, sales may double in the coming months.
02:38 But we are also trying to slow down the sales rate.
02:42 We are trying to slow down the sales rate, but we are not opening a store for them.
02:45 Will the decrease in the local currency affect the investment rate of Balmy Hills in the coming period?
02:51 Of course, we know that there are two prices, one official and one not.
03:01 So everyone is buying at the other price.
03:03 It is known to everyone.
03:05 But there is always a debate about whether this will affect the cost of the investment.
03:12 There are many things that will not affect the cost of the investment.
03:14 We are already betting that the dollar will not be 31 billion pounds.
03:18 I would like to ask you about the total investment of Balmy Hills and the target in the coming period.
03:22 The total investment of Balmy Hills is about 250 billion pounds.
03:32 The total investment of Balmy Hills is about 300 billion pounds.
03:38 When will you invest in the new area?
03:40 We are still in the 6th of October.
03:43 We believe that no matter how many cycles happen, the world will be better or worse.
03:50 But this is our country and we must stay in it and fight.
03:55 We hope that the world will improve in the coming period.
03:58 There were some news about the withdrawal of a shareholder from Balmy Hills.
04:03 Balmy Hills received some of the bonds that it wants to acquire from Balmy Hills.
04:10 What is your assessment of this?
04:12 We did not receive any bonds from Balmy Hills.
04:15 There was a bank called Siyadi Khaligi that was trying to buy a share from one of the banks.
04:25 We did not choose that bank.
04:28 I do not know if this is true or not.
04:31 But this is a great investment opportunity.
04:35 We are looking at a share that is worth more than 5% of its actual value.