New Alamein’s largest tower costs 4 bln Egyptian pounds

The total cost of New Alamein City’s biggest tower approaches around 4 billion Egyptian pounds ($223.4 million), said an official source in Egypt’s Redcon Construction on Saturday.

Redcon was mandated to execute the tower in New Alamein during the last period, the source further told Amwal Al Ghad.

“The total cost of the tower’s concrete works is expected to reach 1.9 billion pounds and 2 billion pounds for the finishing works,” he said.

Egyptian property developer Dorra Group and Redcon Construction had been tasked with carrying out two biggest tower in New Alamein, at lengths of 40 floors, the source added.

On March 1, Egyptian President Abdel Fattah al-Sisi inaugurated the first phase of New Alamein City project that will include a national university that comprises a bunch of applied science faculties, an opera house, a library, and a museum.

New Alamein is located northwest of Cairo on an area of more than 48,000 feddans (49,824 acres) in Alamein town on Egypt’s Mediterranean coast. It is designed to include 5,000 housing units to accommodate over 400,000 inhabitants.