ERG Developments reveals its plan for 2023 which includes expansion in the Egyptian real estate market, Invest-Gate reports.

The plan includes launching a group of projects in the New Administrative Capital.

Chairman of ERG Developments, Mohamed Rizk, says that the company plans to launch the final phases of its residential and commercial projects in NAC.

He adds that the company also seeks to expand in new projects in East Cairo and that it considers a land plot in the Fifth Settlement on an area of 100 acres to implement a residential, commercial, and administrative project.

The company is waiting for new proposals from The New Administrative Capital’s Company to expand in new projects, Rizk unveils.

For his part, Mohamed Amer, the company’s CCO, unveils that the company launches the third and final phase of the Ri8 residential project, and the final phase of the Moonreal Tower project in the NAC.

It is worth noting that ERG is implementing four projects in NAC; namely Diamond Tower 1, Diamond Tower 2, Moonreal Tower, and Ri8 Compound.

The 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.