RED is our oldest department at I&D. It maintains a client, who is the grandson of one of Egypt’s most successful businessmen, Moise Levy de Benzion. RED connects us with our eighty years history.
RED is as relevant today as it was eighty years ago, because of its ability to renovate and rediscover itself and services. RED manages buildings in Cairo and Alexandria that still have protected tenants. It deals with the many abuses that those tenants exercise against the current landowners. It terminates their contracts if there is no proper line of succession with the original tenant or if the line of succession has exceeded the allowed automatic legal renovation allowed.
RED complements the Construction Department.
– While the CD handles projects from the pre-engineering stage till completion, RED handles the development as from the sale of the units and continues during management phase.
– Many developments fall short of international best practices in regulating the relationship between the developer and the unit-purchaser. RED brings balance to that.
– RED assists in the registration of ownership of real estate. We need to navigate through archaic procedures, while we advocate the simplification of those procedures to bring it to international best practices.
RED is headed by Amr Elbakry. He works on the development of his department in cooperation with Bahieldin H. Elibrachy. BHI is providing assistance in the strategic development of the department.