HomeNewsERD Developments launches Diamond Towers project in Egypt

ERD Developments launches Diamond Towers project in Egypt

ERD Developments led by Chairperson Mohamed Rezk has announced the launch of the new Diamond Towers project at the New Administrative Capital (NAC), a large-scale project in Egypt that has been under construction since the year 2015.

Rezk said that with an investment of over US$ 25m, the project consists of two towers with a total of 1,000 units dedicated to commercial and administrative activities in the NAC’s Downtown area, spanning over an area of 21,000 square meters.

Search for construction leads
  • Region/Country

  • Sector

Also Read: Museum of Egyptian Capitals at NAC undergoing final touches ahead of commissioning

The company plans to start the actual construction works on the project by next June.  The ERD Developments chairperson explained that the company has a contracting arm that will take care of the project’s construction.

The project is expected to be delivered within a span of 24 months from the day the construction works start.

ERD Developments plan for the Diamond Towers project

According to Mohamed Rezk, the company plans to have the ground to third storeys of each of the towers allocated to commercial properties, the fourth to the sixth storeys allocated to medical properties, and the seventh to the tenth stories set aside for administrative properties.  The eleventh to the fourteenth stories will be allocated to serviced-apartments.

Rezk also pointed out that the ERD Developments has received reservation forms estimated to be for over 50% of the units in the first tower.

Ahmed Samy, the Chairperson of IDEA Group Egypt, which provides marketing and media services and that handles all the marketing and consulting work for ERD Developments, said that the state’s interest in the NAC helped attract the world’s attention.

“The NAC is expected to attract various segments of customers, as well as presenting advantages in attracting major foreign investments, and the ERD plans to market the Diamond Towers project in a number of Gulf countries as a result,” said Samy.

Must Read

Arror and Kimwarer dams in Kerio Valley, Kenya

Four years after being halted, work on the Kerio dams, consisting of the Arror and Kimwarer dams, is set to resume. This comes after...

Construction of new homes for deportees in Rwanda launched

The foundation stone has been laid for the construction of new homes for deportees in Rwanda. According to Rwanda's Infrastructure Ministry, the project will have...

Plans approved for construction of 32-storey tower at Leadenhall Market in London

Plans have been approved for the construction of a 32-storey tower at Leadenhall Market in London. The Square Mile's "tourist appeal" will be boosted...

The Netherlands to build the world’s largest offshore hydrogen production plant

For the construction of the world’s largest offshore hydrogen production plant in the Netherlands, the Dutch government has selected an area. The area is...

Wildwood EDEN Village community construction well underway in Florida

Construction work is rapidly progressing on Wildwood Eden Village, a 130-unit single-family rental community in Florida. The development is taking place under a partnership...

Top construction companies in South Africa

Over the years, South Africa’s construction industry has faced challenges fraught with labor unrest, substantial delays on some of the country’s major construction projects,...


Please enter your comment!
Please enter your name here