Mohamed Amer: We have completely sold out the first and second phases of the Ri8 project
ERG Developments has announced the features of its plan during the current year, which is based on the strength of its presence in the Egyptian market through a package of distinguished projects and a strong presence in the New Administrative Capital, during a press conference attended by a group of journalists and media professionals, in the presence of the company’s leaders.
Eng. Mohamed Rizk, Chairman of ERG Developments, said that the company will launch the final phases of its residential and commercial projects in the Administrative Capital, after the great success achieved by the projects.
Pointing out that ERG Developments is also planning to expand in new projects in East Cairo and the New Administrative Capital, where the company is studying a plot in the Fifth Settlement on an area of 100 acres to implement a residential, commercial and administrative project, adding that his company is waiting for new proposals from The New Administrative Capital’s Company to expand in new projects, believing in the strength of the project and the support provided by the government, as it represents a new urban interface befitting the status of Egypt.
Rizk confirmed that ERG believes that success comes from the solidarity of a group of factors that are inseparable from each other, perhaps the most important of which is the professional work team that works in harmony and integration to implement the company’s strategy, so the company decided to honor its team for the success achieved during the past year and reaching the targets according to the plan.
For his part, Mohamed Amer, the company’s CCO, said that the company has developed a strong plan for the new year focuses on implementation and accelerating project completion rates in conjunction with the expansion of new projects, especially since the company has succeeded in imposing its presence strongly in the Egyptian market and building a strong customer base that it strengthened. The reputation of the company and its ability to fulfill its contracts, in addition to the strong solvency of the company, which relies on self-financing.
Amer indicated that the company launched the third and final phase of Ri8 residential project, and the final phase of the Moonreal Tower project in the New Administrative Capital, pointing out that the company has succeeded in fully marketing the first and second phases of the RI8 project.
ERG is implementing four projects in the New Administrative Capital, namely Diamond Tower1 , Diamond Tower 2, and Moonreal Tower, in addition to its residential project Ri8 Compound in the R8 area.
Amer confirmed that the residential project Ri8 has a strategically vital location close to all vital areas in the New Administrative Capital, as the Green River and the central business district.
Ri8 project is located on an area of 25 acres, in the R8 area, and includes residential units with areas ranging from 138 sqm to 350 sqm, with targeted sales of EGP 5 bn.
Amer emphasized that ERG is interested in applying sustainability standards in accordance with the requirements set by the New Administrative Capital Company, and the company cooperates with senior consultants and management companies to produce a distinctive real estate product.
Diamond Tower 1, is an integrated tower, on an area of 5000 square meters and consisting of a ground floor and 14-storeys, including retail, offices, medical, and hotel apartments, with all services that make it a unique tower at affordable prices for all customers.
DIAMOND TOWER NEW CAPITAL1 is located in a privileged location in the heart of the Downtown area of the New Administrative Capital.
The tower has a facade on a main street with a width of 90 meters, which is one of the largest streets in Downtown, as it connects the eastern entrance and the western entrance to the Downtown area.
It is also located on four main corners and on a street with a width of 70 meters and overlooking the main entrance to the central park, so that each corner carries a different and distinct view, as it is parallel to the northern axis of Mohammed bin Zayed, and it is located next to the central park and the monorail station.
Diamond Tower 2 is a mixed-use project including retail, offices, medical, and hotel apartments, located on an area of 4,700 meters, and includes a ground floor and 14-storeys.
It is located in a privileged location in the Down Town area of the New Administrative Capital, overlooking the largest street in the Down Town area, connecting the eastern entrance and the western entrance to the Downtown area, parallel to the northern Bin Zayed axis, and next to the central park and the Monorail station.
The 26 floors Moonreal Tower project is located in the heart of Downtown on an area of 12,000 sqm, includes commercial, administrative, medical, and hotel units.
ERG Developments was founded by a merger of 4 major companies to enter into projects in different regions. The company’s experience in the field of real estate development extends to 2005, and it has built important and giant projects in Delta governorates and the New Administrative Capital.