ERG Group debuts an ambitious investment plan in New Capital

IDEA Group succeeds in achieving record sales in  Diamond Towers project in the New Capital

Launching the company’s third project in the NAC with targeted sales worth EGP 2bn

Emaar Rizk Group (ERG) has announced the launch of its business in local market with an ambitious investment plan in real estate market, specifically in New Administrative Capital (NAC).
The ERG includes 4 subsidiaries with various activities, provided that the new entity includes Emaar Rizk Real Estate Development (ERD), Emaar Rizk Development, Emaar Rizk Navigation, and Emaar  for wood import and export.
Mohamed Rizk, Chairman of ERG Group said that the new entity includes companies with various activities, most notably real estate investment, where the two ERD Development companies were merged with Emaar Rizk company under the name ERG, which will be responsible for developing their real estate projects.
Rizk added that the company plans  for a more powerful launch in the market in the coming period that supports its seriousness and credibility towards its customers, in addition to developing projects that are in line with the state’s ambitious vision towards comprehensive urban development.
He noted that ERD Real Estate Development, subsidiary of the ERG Group, launched two projects in the NAC  early this year, namely  Diamond 1 and Diamond 2, pointed out that the company has recorded a remarkable sales in the two projects in record time.  The two projects are being developed under the name of the new group, “ERG Group.”
He elaborated that ERG’s investment plan includes 9 plots of land in the New Capital with a total investment worth approximately EGP 14bn, two of which have been launched and the third project is underway. The rest of the projects being launched gradually in line with market needs and the company’s investment plan.
“Emaar Rizk Real Estate Company began its work in Delta region, specifically in Mansoura since 2005. since its launch, it has developed 12 separate towers in Mansoura and Delta, in addition to 2 residential compounds City Life 1 with a total of 230 housing units that the company has delivered part of these units besides developing City Life 2, which includes 40 villas that are under construction. The two projects were developed in cooperation with Housing and Development Bank, which reflects the trust and credibility that the company enjoys,”  Rizk said.
Aya Kamal, CCO at ERG Group, said that the company organized a big celebration to launch the ERG group in its new form, and introduce its subsidiaries and its various investment activities, in addition to honouring success partners and real estate marketing companies for achieving outstanding sales in record time in the Diamond Towers projects in the NAC.
Kamal pointed out that the list of success partners included real estate marketing companies that participated in marketing the project, and KAD Commercial Property Management company, which will be responsible for managing the company’s three projects in the New Capital.
She revealed that the company intends to launch its third project in the New Capital next November, with targeted sales worth EGP 2bn.
The project includes many investment advantages, most notably the site that is being launched for the first time in the NAC  and will not be repeated again due to its great distinction, as it overlooks the gold market directly with a direct view on monorail station, mosque of Egypt,  parliament, Green River and new museum, as well as near the headquarters of petroleum and pharmaceutical companies and  Almassa Hotel.
She further explained that the new project is a hotel-management commercial project, and it is being offered at competitive prices that are offered for the first time in local real estate market and in the New Capital, which will make the project a promising investment opportunity that must be seized by customers looking for promising and unprecedented opportunities.
Ahmed Samy, chairman of IDEA GROUP for Marketing Consultations, said that IDEA is responsible for marketing, selling and operating Diamond 1 and Diamond 2 projects according to a new marketing strategy in property market, in cooperation with the success partners who were honoured in a huge celebration held  By the ERG on Tuesday.
Samy added that the company has recorded outstanding sales in the Diamond Towers project, as more than 80% of the Diamond Tower 1 project has been sold out since its launch in March. Moreover, the company has also sold out more than 70% of the Diamond 2 , which was launched in July.
The total investments of the two projects amount to roughly EGP 2bn with built-up area of ​​about 40,000 sqm, he disclosed.
IDEA  will also be responsible for the third project of the ERG Group in the New Capital, due to the distinguished results achieved in the company’s projects, Diamond Towers, which enhances confidence for more cooperation in future projects.