REDCON for Offices and Commercial Centers Achieves Sales of EGP 1 Billion in its First Year of Operation 

ROCC
Wed. 01 Feb. 2023

REDCON for Offices and Commercial Centers, the newly established development arm of REDCON Construction, achieves EGP 1 billion in sales in its first nine months of operations with Golden Gate, its first project located in New Cairo, and finalizes leasing agreements for 3000 square meters with 23 international brands. 

The success in attracting various international brands before the completion of construction reflects the confidence in Golden Gate as a leading and sustainable mixed-use project in Egypt, which guarantees the highest return on investment for customers and provides an exceptional experience in shopping, work environment, and entertainment. 

Achieving such a milestone is supported by the project’s unique features, in applying sustainable construction and green architecture principles that aim to reduce carbon emissions by improving energy and water consumption efficiency, contributing to the overall improvement of the environmental quality of the community. Such principles are implemented throughout the whole construction process of the project, from planning and site selection to design, construction, operation, and building maintenance. 

"Our adherence to sustainable development is a key pillar in our projects’ success, as we are committed to applying green architecture development principles in our flagship project Golden Gate. aiming to create a sustainable mixed-use community. We are working on integrating these principles into the company's internal policies as well as ensuring applying such principles across all aspects of the project through our collaboration with four major consulting partners who specialize in sustainable development and building." explained the Chairman of REDCON for Offices and Commercial Centers, Eng. Tarek ElGamal.  

Mr. Ahmed Abdullah, Vice Chairman of REDCON for Offices and Commercial Centers, elaborated “The results the project achieved within nine months from its launch, especially its leasing agreements with international brands before the ground-breaking, confirm the project's appeal to investors and some of the most renowned international brands that prioritize sustainability as a key pillar for their business. We are thrilled to have achieved our targeted sales for 2022, and we are looking forward to achieving sales revenues of EGP 5 billion, in addition to lease agreements, in 2023.” 

Eng. Hisham Moussa, CEO of REDCON for Offices and Commercial Centers, stated “The success of the project in attracting investors and business owners comes as a result of the project’s unique features delivering an exceptional shopping and entertainment experience through the concept of Street Shopping, as well as its prime location in New Cairo. Moreover, we are proud to introduce Golden Gate as a truly green community providing all required facilities for managing specialized commercial, administrative, and service entities.” 

With a total investment cost of EGP 20 billion, Golden Gate is in a prime location in the heart of New Cairo. It has the largest façade overlooking the main axes in front of the American University in Cairo and spans an area of 160,000 square meters. The first phase spans 128,000 square meters and consists of 25 integrated buildings, including administrative, entertainment, commercial, and open spaces as well as indoor pedestrian walkways. 

Offering an integrated experience under one roof, the Golden Gate will bring together different international brands to meet clients’ various needs, including a hypermarket and entertainment venues. The project also comprises the largest indoor parking space in Egypt with two-storey underground car parking utilizing 100% of the total land area of the project. 

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About REDCON 

REDCON for Offices and Commercial Centers - one of the Redcon companies, was established to specialize in constructing real estate projects with multiple uses. It is one of the leading companies in using sustainable and green building methods in the real estate sector in Egypt through its primary project, Golden Gate. 

REDCON for Offices and Commercial Centers has been working in the real estate sector for roughly 30 years and it is one of the top five construction companies in Egypt. The company has delivered over 200 projects since its inception in 1993. These projects include El Alamein Towers, Maspero Towers, Mansoura University, PwC Headquarters, Pharco, Electrolux, Bank Audi (the Company’s first green building that received a LEED silver certificate for its leadership in energy-saving designs and conservation of the environment), and many others.  

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