ICEC

Redcon to deliver 100 villas in Emaar’s Mivida New Cairo

Egypt’s Redcon Construction says it is looking to deliver 100 residential villas in Mivida New Cairo, a project owned by Emaar Misr before the end of this year.

The total cost of the residential villas is estimated at around 200 million Egyptian pounds ($11.2 million), Redcon’s chief executive Hossam Nassar told Amwal Al Ghad on Sunday.

“Redcon had participated in executing projects, varying between residential buildings and villas in favour of Emaar, which is one of the most important real estate developers in the local market,” Nassar said.

The Egyptian official said Redcon signed contracts worth two billion pounds over the past two years with a number of Egyptian mega property developers, notably Emaar, Palm Hills Developments, SODIC, and NEWGIZA.

“Redcon is currently negotiating with a bunch of property developers to increase its business volume, through winning a mandate to carry out new real estate projects in various areas in Eastern Cairo,” Nassar added.

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