{"id":664664,"date":"2025-05-05T00:00:00","date_gmt":"2025-05-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/05\/redcon-construction-has-plans-to-expand-its-presence-regionally\/"},"modified":"2025-05-05T00:00:00","modified_gmt":"2025-05-05T00:00:00","slug":"redcon-construction-has-plans-to-expand-its-presence-regionally","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/05\/redcon-construction-has-plans-to-expand-its-presence-regionally\/","title":{"rendered":"Redcon Construction has plans to expand its presence regionally"},"content":{"rendered":"<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Redcon<\/strong><strong> Construction is expanding its presence in Saudi Arabia and Iraq<\/strong>, with the company taking part in Saudi Arabia\u2019s Amaala tourism development on the Red Sea and collaborating with the Sawiris-owned Ora Developers on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae2db0aa-72f4-4e81-81d4-145ad7fb8219\/tmg-eyes-usd-10-bn-administrative-city-project-in-iraq\" style=\"\" rel=\"noopener\">Ali Al Wardi New City project<\/a> in Baghdad, Chairman Tarek El Gamal told Cairo Weekend\u2019s Zeina Soufan (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=LNWNw82eM7s\" style=\"\" rel=\"noopener\">watch, runtime: 11:33<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The local construction company is also planning to enter the UAE<\/strong>, where it has already secured projects in Abu Dhabi\u2019s industrial zone. Also in the cards is a collaboration with Ras El Hekma lead developer Modon Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt pla<\/strong><strong>ns to resume import<\/strong><strong>s of 12 mn barrels of crude oil annually from Iraq starting <\/strong><strong>3Q 2025<\/strong>, following a year-and-a-half halt on imports, an unnamed government official told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/81117\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%A7%D8%B3%D8%AA%D8%A6%D9%86%D8%A7%D9%81-%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%85%D9%86-%D8%A7%D9%84%D8%B1%D8%A8%D8%B9-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The move comes after financial disagreements led to the Iraqi Oil Marketing Company (Somo) halting the supply of crude oil to the Egyptian General Petroleum Corporation (EGPC) at the end of 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Negotiations to \u201cresolve disputes related to opening credit\u201d to supply Iraqi oil are in their <\/strong><strong>final stages<\/strong>, the official added. The negotiations also reportedly cover \u201cgranting favorable terms to the EGPC, whereby Baghdad will receive payment for shipments delivered to Egypt three months after delivery.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Klivvr secures the greenlight to launch BNPL services: <\/strong>Fintech player <a target=\"_blank\" href=\"https:\/\/www.klivvr.com\/\" style=\"\" rel=\"noopener\">Klivvr<\/a> secured final approval from the Financial Regulatory Authority to launch buy-now-pay-later products on the company\u2019s app, the company <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7324768407524921345\/\" style=\"\" rel=\"noopener\">announced<\/a> yesterday. The fintech outfit secured the FRA\u2019s approval to establish a consumer finance company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96908d87-6936-49a6-a0c9-29cf9556e936\/%253cmark%253eklivvr%253c%2Fmark%253e-to-launch-consumer-finance-arm\" style=\"\" rel=\"noopener\">in December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Fawry and<\/strong><strong> Microsoft are partnering up to push the SME sector\u2019s digital transformation by <\/strong><strong>integrating Microsoft 365 into Fawry Business services, <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/148.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>. \u201cThis collaboration is set to revolutionize the SME landscape by offering an integrated suite of digital and financial solutions, enhancing efficiency and supporting business growth,\u201d the statement read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ashry St<\/strong><strong>eel Group is eyeing up to EGP 10 bn in investment <\/strong>to expand its production capacity to 4 mn tons over the next two years, Chairman Ayman El Ashry told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid0288v4WsvSaduVYJCMLwmXx3nuHXAkFPZKDuKmtwxWtjwE5RtwP5rhd3pRf6vn2as6l\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Studies for a Saudi project in partnership with a Saudi partner will be wrapped up in the next few months, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Egypt plans to resume imports of 12 mn barrels of crude oil annually from Iraq starting 3Q 2025<\/p>\n","protected":false},"author":1,"featured_media":664665,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,144,309,93,72,519,183,462,91,1777],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-664664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-customs","tag-energy","tag-enterpriseam","tag-fawry","tag-fintech","tag-microsoft","tag-oil-and-gas","tag-redcon-construction","wpautop","entry"],"acf":{"mongo_id":"fe06dfd3-6526-4de9-a673-046ab9a5262e","order":"14","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1858.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Redcon Construction has plans to expand its presence regionally","related_issue":[664640],"teaser":"PLUS- Egypt plans to resume imports of 12 mn barrels of crude oil annually from Iraq starting 3Q 2025","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.ec841d6b-7f84-485e-8d81-9b8bff66829a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Redcon \u2014 the parent company to a group of 10 firms in several sectors including construction, real estate, aluminum, and facility management \u2014 had been\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/76.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593733,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/08\/national-bank-of-egypt-qnb-provide-egp-1-7-bn-loan-to-redcon-construction\/","url_meta":{"origin":664664,"position":1},"title":"National Bank of Egypt, QNB provide EGP 1.7 bn loan to Redcon Construction","author":"enterpriseam admin","date":"8 October 2019","format":false,"excerpt":"The National Bank of Egypt (NBE) and Qatar National Bank are providing a EGP 1.7 bn syndicated loan to Redcon Construction, according to Al Mal. The money will finance the company\u2019s contracting operations to build multi-purpose towers in New Alamein City.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575220,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/whos-in-the-market-for-debt-redcon-construction-msmeda\/","url_meta":{"origin":664664,"position":2},"title":"Who\u2019s in the market for debt? Redcon Construction + MSMEDA","author":"enterpriseam admin","date":"6 October 2020","format":false,"excerpt":"Redcon Construction has signed a EGP 625 mn syndicated loan agreement with the National Bank of Egypt and Qatar National Bank to help finance the construction of several towers in New Alamein, according to Al Mal. The company was originally seeking a EGP 1.7 bn loan from the banks, according\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594242,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/23\/egypts-madinet-nasr-awards-egp-5-bn-work-to-contractors\/","url_meta":{"origin":664664,"position":3},"title":"Egypt\u2019s Madinet Nasr awards EGP 5 bn work to contractors","author":"enterpriseam admin","date":"23 October 2019","format":false,"excerpt":"Real estate developer Madinet Nasr for Housing (MNHD) has awarded EGP 5 bn of work to contractors, including Redcon Construction and Gama Construction, in its Taj City and Saraya projects in New Cairo, Managing Director Ahmed El Hitamy said during a conference. The company had previously contracted Hill International before\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624123,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/coffee-with-tarek-el-gamal-chairman-of-redcon-properties\/","url_meta":{"origin":664664,"position":4},"title":"Coffee With: Tarek El Gamal, chairman of Redcon Properties","author":"enterpriseam admin","date":"24 June 2024","format":false,"excerpt":"Timing is crucial to transform Egypt into a regional center for international firms, says El Gamal","rel":"","context":"In &quot;Coffee with\u2026&quot;","block_context":{"text":"Coffee with\u2026","link":"https:\/\/enterpriseam.com\/egypt\/coffee-with\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1858.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624274,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/04\/redcon-eyes-2q2019-ipo-to-finance-future-expansion-plans\/","url_meta":{"origin":664664,"position":5},"title":"Redcon eyes 2Q2019 IPO to finance future expansion plans","author":"enterpriseam admin","date":"4 September 2018","format":false,"excerpt":"IPO WATCH- Redcon eyes 2Q2019 IPO to finance future expansion plans: Redcon Construction is considering floating a portion of its shares in the EGX in an initial public offering in the second quarter of 2019, Managing Director Tarek El Gammal said, Al Mal reports. The company is hoping to raise\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=664664"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664664\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/664640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/664665"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=664664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=664664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=664664"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=664664"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=664664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}