ICEC

Redcon Construction delivers a ministerial building in Egypt’s new capital

Egyptian Redcon Construction Company has handed over a building at the ministerial district in the country’s new administrative capital, said its chief executive Hossam Nassar on Saturday.

“The company implemented the ministerial building within a timeframe of eight-month maximum,” Nassar further stated.

The Egyptian official added that Redcon seeks to win a mandate in order to carry out a number of major projects in the new city, as part of the company’s scheme to double its business volume.

“There are current negotiations to execute substantial works in the residential and ministerial districts in the new city within the upcoming period,” he noted.

Moreover, Nassar referred that the company also targets returns ranging between 2.5 billion and 3 billion Egyptian pounds ($140.6-$168.7 million) at the end of 2018, compared with around 1.5 billion pounds at the end of 2017.

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