Eng. Tarek ElGamal to “Osoul Misr”: Redcon follows green architecture techniques, invest in digital infrastructure
Redcon Construction had implemented a significant reputation over the last 30 years in the construction sector through focusing on many criteria on the top of them the quality, accuracy and modernity in implementation, using the latest technological techniques in building and operation.
Redcon implements mega 4G projects, delivery of tower & units in Latin district next June
The company implemented many projects for the public and private sectors, gained the trust of the government in implementing mega 4G projects and upgrading projects in Cairo.
The Egyptian state had also assigned projects to Redcon in the New Administrative Capital (NAC) and New Alamein City along with upgrading projects in Greater Cairo like The historic Magra el-Oyoun Fence, Ain El-Sira area and Maspero Triangle.
Redcon had launched a new company called “Rocc- Redcon” aiming to present significant new products to the real estate sector and making a leap in the field.
Chairman of Redcon Construction Tarek El-Gamal, revealed the company’s expanding strategy, the quality of the units and the expanding plans abroad.
ElGamal said that Egypt is distinguished by many factors that increase its chance for attracting investments like the moderate climate, geographic and strategic location along with the high demand on all real estate categories, as 65% of Egypt’s population are under 35 years old.
He added that a number of mega projects had implemented for example, implementing infrastructure and roads, and planning from 4G Cities which pay attention to services before housing, which became an added value to the land.
Redcon chairperson added that the increasing and high demand on the Egyptian real estate scales up its ability on achieving the highest return.
4G cities and exporting contracting
Redcon Construction had implemented a number of mega projects in 4G cities like New Alamein City and the New Administrative Capital (NAC) including “The Gate” tower and a number of projects in the Latin district in New Alamein City.
The construction work is scheduled to be delivered on 30th of June, 2022.
ElGamal added that the company is also working on national projects like the development work of Maspero Triangle, Ain el-Sira Lake and the area around Magra el-Oyoun Fence, along with the Central Cooling Station and Green River Park projects in NAC.
He noted that the company had also constructed and inaugurated a university in New Alamein City last year, as it started with only three faculties and 1000 students enrolled, while two new faculties were inaugurated by the start of the current academic year.
Talking about expansion in the African markets, El-Gamal said that Redcon is currently working on setting measurements in this regard, noting that the matter was slowed down because of Covid-19 pandemic.
He referred that the company is resuming work on expanding plans abroad and is discussing a number of opportunities in the Libyan market.
ElGamal said that the company is seeking to make a leap in the commercial real estate sector which complies with the global orientation and rapid development, referring that “Rocc-Redcon” company is working on setting progressive and integrated expanding plans in the Egyptian market.
Redcon Construction over the last 30 years
150 implemented projects30projects under construction22new contract projectsTotal of2800 full time employeesOver5000 of indirect employment
He referred that “Golden Gate” project is the first project implemented by Rocc-Redcon, saying that the project is constructed according to the latest techniques of the modern engineering and architecture, on the top of them the green architecture, in order to decrease the energy consumption and reduce negative impact on the environment.
“The Golden Gate” project is built over total area of 250 thousand square meters and total investment cost of EGP 20 bn. It has a distinctive location in the heart of New Cairo.
It overlooks southern 90th street with one kilometer and in front of the American University in Cairo (AUC).
The project’s location is nearby two monorail stations, which make it reachable from anywhere in Cairo.
Rocc-Redcon had also made an alliance with 6 construction consultant firms which are: Wimberly Allison Tong & Goo (WATG), Engineering Consultants Group (ECG), Amr Abdelrahman Consultant Engineers (AACE), the International Consultant Engineers (ICE), DR Osama Okeil, and EMG to set building designs that combines between modernity and authenticity and reflect the Egyptian culture and civilization.
Funding and investment plan
ElGamal said that Rocc-Redcon invests EGP 7 to 8 bn in “Golden Gate” project in New Cairo starting from 2022 until the coming four years.
He noted that these investments include construction work and marketing. He also referred that the company is discussing funding mechanisms among them obtaining EGP 6 bn syndicated loan to finish the latest stages of the project.
Sustainability and Green Architecture
Green architecture saves 25% – 30% of energy consumption
ElGamal elaborated that the company is currently not intending to implement residential compounds unless finding attractive opportunities in addition to the ability of following green architecture mechanisms.
He added that Redcon is generally looking forward following the green architecture techniques which become a global orientation and led to achieving high investment returns on the long term.
He noted that green architecture also saves 25% to 30% of energy consumption in addition to improving work environment through providing fresh air and good lighting to the employees.
Redcon chairperson elaborated that the company is keen on following the latest technological means, saying that the digital infrastructure of “Golden Gate” resembles 10% to 12% of the project’s total investment cost.
He added that the company pumped EGP 700 to 800 million to use the latest technological instruments while constructing the project.