Wadi Degla Developments outlined the successful implementation of their decade long business strategy to build homes that the middle class can afford. Today, during a press conference, held at Gezira Tower. Wadi Degla Developments Co- founder and Chairman Maged Helmy attributes their success to a staff of seasoned professionals with a core mission to provide affordable housing and real estate investment opportunities to all Egyptians adding that “We provide creative housing solutions for Upper Middle class citizens nationwide using various models that will deliver affordable housing to its target market.”
Blending mission and profit is possible, albeit with less return than available from high-end buildings. A few developers, such as Wadi Degla Developments, start with a mission-driven approach to create vibrant communities that give more people a safe and engaging place to call home—and then make sure that the developments also fit with their profit motivation.
The approach involves seeking out investment property with latent value, and makes it available for its wide customer base. “It wasn’t just how well could you design a house—it was more comprehensive than that,” Helmy says. “It was looking for what the right pieces of the puzzle that had to be put together in order to find a solution. It’s not that architecture doesn’t make it better, but all the other little parts needed to work, too. In the end you’re working with three factors: its land cost, construction cost, and development cost, and you’re trying to drive all that down and package it in a way that will make it affordable to a large base of people”