Emaar Rizk Real Estate Development (ERD) to launch Diamond 2, the second tower at the New Administrative Capital in June, with EGP 1bn targeted sales, Invest-Gate reports.

Mohamed Rizk, chairman of the Board at ERD says the project is a commercial, administrative, medical and hotel tower, and it is located on an area of ​​4700 m; it includes a ground floor and 15 floors with a total of 550 units with areas starting from 23 sqm.

He adds the project located in the downtown area at the New Administrative Capital, overlooking the largest street connecting the eastern entrance and the western entrance, parallel to the Bin Zayed North Axis, and next to the central park and the monorail station.

Rizk explains that the project is divided into commercial units from ground floor to the third floor, medical from the fourth to the sixth floor, administrative from the seventh to the tenth floor, a hotel from the 11th to 14th floors, and the last floor is for the Sky roof.

“The company has obtained the licenses and has started the construction work on the project before marketing it, which enhances customers’ confidence in the company and its commitment to implementation and delivery to the highest quality standards,” he says, explaining that it is planned to deliver the project within two and a half years.

He points out that the company provides excellent payment terms for the project for repayment periods of up to 10 years. The company is also presenting for the first time an offer of “benefiting from a cash discount” system, so the customer will obtain the benefits of immediate payment, “cash payment” but repays within three years.

ERD is launching two projects at the New Administrative Capital in the name of “Diamond towers”, with investments reaching more than EGP 4 bn. It consists of two towers, “Diamond 1” and “Diamond 2”, dedicated to commercial and administrative activities in the downtown area  on a total area of ​​21,000 sqm.

Furthermore, the company achieved sales of more than 75% in the first tower, “Diamond 1” and adjacent to the second tower, in record time, and part of this project was marketed to clients outside Egypt, adding that IDEA Marketing Consultancy undertakes the marketing, sale, financial management and operation of “Diamond 1” and “Diamond 2” according to a new marketing strategy.

In the same context, Ahmed Sami, chairman of the Board IDEA Marketing Consulting, says that his company provides integrated services to real estate developers, starting from selecting the project plot, determining the nature of the units that suit the target customer, providing marketing and sales services for the project,  and managing and operating it in cooperation with the developer.

Sami adds that the company has achieved contractual sales by more than 75% in the first tower, “Diamond 1”, in record time, and that among its tasks is marketing the second project of the company according to innovative marketing mechanisms based on digital marketing and communicating with target clients in various real estate exhibitions.