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ERG Developments eyes expansion in 2023

ERG Developments eyes expansion in 2023
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Cairo – Mubasher: ERG Developments plans to expand in new projects in East Cairo and the New Administrative Capital (NAC) during the current year.

During a recent press conference, the company said it is currently studying a 100-acre land plot in the Fifth Settlement to implement a residential, commercial, and administrative project and awaiting new proposals to expand in new projects.

Mohamed Rizk, Chairman of ERG Developments, stated that the company will launch the final phases of its residential and commercial projects in the NAC following the great success achieved by the projects.

For his part, Mohamed Amer, the company's CCO, said that the company has developed a strong plan for the new year focusing on implementation and accelerating project completion rates in conjunction with the expansion of new projects.

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 capital, pointing out that the company has succeeded in fully marketing the first and second phases of the project.

ERG is implementing four projects in the NAC, namely Diamond Tower 1, Diamond Tower 2, Moonreal Tower, and the residential project Ri8 Compound in the R8 area.

Located on an area of 25 acres, the Ri8 project includes residential units with areas ranging from 138 square metres (sqm) to 350 sqm, with targeted sales of EGP 5 billion.