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 sale 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 LE14bn, 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.
Aya Kamal, CCO at ERG Group, said that the company organised 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.
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 co-operation with the success partners who were honoured in a huge celebration held By the ERG on Tuesday.
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