By: Abdullah Bedeir
Cairo – Mubasher: AlTameer Arabian has launched its latest project in the New Administrative Capital with investments of EGP 1 billion during the Cityscape Egypt exhibition.
Rivan Square, built over an area of 15,500 square metres in R7 in the new capital, is an administrative, commercial, medical project, overlooking the Champs Elysees walkway, the company’s Chief Commercial Officer, Ahmed Ossama, said in an interview with Mubasher.
The first phase of the project, comprising of 60% of the total number of the units, has been promoted during the Cityscape Egypt exhibition, while the second phase will be launched in the upcoming period, he added.
Groundbreaking on the project will begin during the second quarter (Q2) of 2021, with completion scheduled in 2023, he said.
The property developer generated about EGP 800 million in contractual sales of Rivan residential project, representing 30% of the units of the project.
He further revealed that the company aims to achieve an additional amount of EGP 1 billion in sales by the end of 2020.
The Rivan residential project, spanning over 17 feddans in the New Administrative Capital, features 17 buildings with 700 units in total.