Redcon Construction signed agreements worth a combined EGP 270 mn with SODIC and Abraj Misr to work on new developments in the Fifth Settlement area of New Cairo, Al Masry Al Youm reports. A number of other real estate developers also announced their upcoming construction plans. Those include:

  • Dorra Real Estate Development Group’s EGP 2 bn project in New Cairo, which it plans to break ground on in October and complete within four years’ time;
  • Emtelak Real Estate and Development’s EGP 1.7 bn hotel project in Ain Sokhna, where construction will begin early next year under a PPP agreement;
  • Memaar Al Morshedy will begin constructing EGP 1 bn worth of projects at Katameya Gate and Lake Front in Six of October;
  • Al Akareya began working on the first phase of its EGP 900 mn Korba Heightsdevelopment and expects to complete the project by 2022.
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