AIG announced that the first phase of its AI Tower project was fully sold within three hours of its launch, citing strong demand for the project and the competitiveness of its real estate offering, which combines a strategic location, advanced operational and technological features, and strong investment value.
Kareem Abdeen, AIG’s Chief Commercial Officer (CCO), said that the rapid sellout of the project’s first phase is an important indicator of customers’ confidence in the company’s vision and the real estate products it offers. He added that the strong demand reflects AI Tower’s distinctive features and its potential to generate investment value for customers.
Abdeen explained that the success of the first launch places a responsibility on the company to maintain the level of confidence the project has earned, by remaining committed to delivering a real estate product with solid fundamentals and potential for value growth, in line with customers’ expectations and investors’ needs.
He noted that continued demand for well-executed projects confirms that the real estate market still offers genuine opportunities, despite the wide range of products and increasing competition. He further pointed out that customers have become more capable of comparing projects and selecting products they believe have clear fundamentals for value creation and long-term sustainability.
AIG’s CCO revealed that AI Tower is part of the company’s strategy to offer a differentiated real estate product in the Central Business District of the New Administrative Capital. The project is the first AI-powered tower in Africa, comprising 50 floors and located directly on Mohamed Bin Zayed Axis.
“The project is designed around the smart building concept, integrating artificial intelligence technologies into its operations and management systems. This approach aims to enhance the experience of companies and investors, improve operational efficiency, and enable the building to respond to the evolving needs of the commercial and administrative sectors,” Abdeen said.
He added that the company aims to build on the success of the first phase by continuing to develop its products based on a vision focused on the project’s actual value rather than simply offering units for sale, an approach intended to support long-term relationships with customers and enhance the project’s investment value.
