Redcon on track to develop administrative building in New Cairo

Egypt’s Redcon Construction has started developing a massive administrative building in Fifth Settlement district, New Cairo, said its chairman Tarek El Gamal on Wednesday.

The new building will be implemented over 20,000 metres within a timeframe of 24-year, with an expected cost of 600 million Egyptian pounds ($33.5 million), El Gamal further told Amwal Al Ghad.

The company is looking to achieve sales estimated at 800 million pounds from the building within the upcoming period, he added.

“We are currently developing 12 mega projects in New Cairo, varying between new administrative buildings and residential flagships,” El Gamal said.