Redcon develops 56 villas in Al Futtaim Group’s Oriana New Cairo project

Egypt-based Redcon Construction Company has begun to develop 56 new villas in Al Futtaim Group’s Oriana residential project in New Cairo, an official in the company said Sunday.

Kareem El-Shazly, Head of Tendering Section at Redcon, further said that the project is Al Futtaim Group Real Estate’s flagship.

“We are developing the new villas with total cost of 210 million Egyptian pounds ($11.9 million),” El-Shazly noted.

Redcon has started Oriana’s construction works during the last two months, El-Shazly told Amwal Al Ghad.

“Redcon is set to deliver the villas with semi-furniture system,” the Egyptian official showed.

El-Shazly referred that his company has expanded its businesses to execute a mega bundle of real estate projects affiliated to major property developer firms in Egypt, notably Emaar Misr.

“We are carrying out other various residential projects in favour of Emaar Misr,” he clarified.

Redcon is currently negotiating with Emaar in order to implement new shares in other housing projects including Mivida and Uptown Cairo projects, he concluded.