ICEC

Redcon Construction executing residential buildings in New Cairo’s projects

Egypt’s Redcon Construction says it is carrying out a bunch of new residential buildings in three major property developers’ flagships in New Cairo totalling 500 million Egyptian pounds ($28.3 million).

The first project is SODIC’s Eastown Parks Compound, at a cost of 150 million pounds, Redcon’s chairman Tarek Elgamal said Sunday.

Hyde Park Complex is a flagship for Hyde Park Properties for Development’s (HPD), at a cost of 150 million pounds, Elgamal said, referring that that Mivida is for Emaar Misr, which is the Egyptian unit of UAE real estate developer Emaar, at a cost estimated at around 200 million pounds.

“The company (Redcon) has achieved business volume worth about two billion pounds during 2017,” he stated, saying that his company plans to expand and increase its business within 2018.

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