Redcon to deliver housing flagships in Egypt new capital before year-end
Egypt’s Redcon Construction nears to deliver some housing and hotel projects in the country’s new administrative capital before the end of the year, a senior official said on Wednesday.
With investments totalling 800 million Egyptian pounds ($49.2 million), the works will include 111 housing villas and two hotels, chief finance officer Ali Arfan further told Amwal Al Ghad.
“During the last period, we were mandated to execute a number of works at The Green River project in the new capital, at a total cost of 1.2 billion pounds,” Arfan said.
The Green River, the 35-km-long project is set to be one of the biggest commercial and entertainment parks in the Middle East and the world. It is conducted by the Egyptian Ministry of Housing in partnership with Dar Al-Handasah.
Located 45km (28 miles) east of Cairo, the anticipated new capital city is part of the Egyptian government’s plan to expand urban areas to deal with the country’s rapid population growth and improve the nation’s infrastructure.