Egypt’s Redcon eyes $210.1mn business volume in New Alamein year-end

Egypt’s Redcon Construction targets business volume up to 3.4 billion Egyptian pounds ($210.1 million) from implementing various projects New Alamein City, northwest of Cairo, at the end 2020.

The company also plans to raise the accomplishment rates of its ongoing projects in New Alamein within the current year, announced managing director Amal Ali Abdel Wahed on Thursday.

Last March, Egyptian President Abdel Fattah al-Sisi inaugurated New Alamein on a space of 48,000 feddans, at a cost worth 2 billion Egyptian pounds ($123 million).

New Alamein is one of the fourth generation cities being built in Egypt in some of the most up-to-date architectural styles, and is scheduled to be finalised in one-year timeframe.

The anticipated city is planned to have universities and schools as well as various services and tourist activities. It is expected to accommodate 400,000 populations.