Lumia Residence by Dubai Developments

When Dubai Developments decided to start the project Lumia Residence in New Capital, they were facing three challenges:

1.The New Capital lowered demand and its landscape’s turnover that took place in 2023. Despite the fact that the real estate market in Egypt has experienced a significant growth, particularly in the New Capital in 2022, several developers faced construction issues in the following year, leading to a decline in customer trust compared to previous years. Consequently, sales have shifted towards alternative destinations such as new Cairo or new Zayed, where customers have placed higher trust in the developers operating in those areas.

2.Over the past five years, after the opening of the new administrative capital, customers became more inclined to seek the advice and guidance of broker companies as they present a wide array of options. Statistical data reveals that, 85-90% of sales are generated through broker companies. Therefore, developers who can effectively influence the mindset of brokers hold the key to controlling the real estate game.

3.The real estate market, particularly in the new administrative capital, was incredibly crowded in 2023. With high competition and a large number of developers operating in the new capital, it has become exceedingly challenging for customers to distinguish one product from another among the overwhelming number of projects available.

Etqan’s research and development team conducted an extensive and meticulous competitive analysis. This involved gathering comprehensive information on the competitors and their unique selling propositions across all residential areas in the new capital. However, our commitment to excellence goes beyond that – we have also benchmarked our research against the entirety of the real estate market in Egypt, as well as international markets.

By doing so, we have gained valuable insights, creating a fully-fledged marketing and financial plan that enables Dubai to respond effectively and incorporate all the essential features to distinguish their project.

Etqan’s team have observed that 16% of customers exhibit consumer behavior characteristic of “LAGGARDS,” meaning they are influenced by last-chance communication messages. In response, we have developed a communication strategy for Dubai to specifically target these LAGGARDS, emphasizing the urgency and limited availability of residential plots in the new capital. This strategy is implemented under the name of “The Last Plot In R7.”

After this, both customers and brokers started to perceive Dubai as a trusted developer.

Over the course of two years, Dubai’s sales team diligently cultivated and nurtured relationships with broker companies.

Dubai proactively engaged potential customers by sharing captivating videos and sending targeted messages with compelling communication. Our objective was to highlight the immense opportunity presented by investing in Lumia Residence. The effectiveness of this approach was evident as Dubai initially planned for a three-day placement period which extended to five days due to the positive response, engagement and increased demand from interested parties.