Al Tameer Arabian, the Saudi-Egyptian partnership firm, sells the total units of its newest project Rivan Tower in the New Administrative Capital within two hours of being put up for sale with the participation of 19 real estate marketing companies, Invest-Gate reports.

Ahmed Osama, head of commercial sector of Al Tameer Arabian, says that the Rivan Tower project witnesses massive interest by clients within just two hours of the sale, which is enough time to complete reservations of the total units of the project, which included hotel, commercial and administrative activities in various areas.

Osama explains that the company receives reservations when announcing the project, which exceeds 50% of total units. Reservations before the official launch led to the company’s selling of the project’s total units, within this short period of time, according the statement published on March 7.

As for the implementation plan, the head start of the Rivan Tower project is scheduled for the last quarter of 2021. The project’s investment cost is EGP 1bn.

The head of the commercial sector adds that the company look forward to giving the 19 participating real estate marketing companies additional benefits in the coming period in relation to offered projects.

Osama sums up that the 19 sales-participating real estate marketing firms consist of: KHL Real Estate, Kith&Kin, Milestone Realestate, The Address Consultancy, Royal Gate For Housing Development, Watad Capital, Advice, Select House, Triumph Estate Group, Emtelak for Real Estate Development, your Aqarcom Company for Real Estate Marketing, Cooing Real Estate, N&N Group for Real Estate Marketing, First Move Company , Merak Company, Limitless Company, Point Mark Company, Modern Cairo Company and finally Key Property.

The head of the commercial sector indicates that Al-Tameer Arabian Company exceeds its investments of EGP 5 bn in the real estate sector, which would stimulate the company to expand and attract new Gulf investments during 2021.