Redcon Construction, an Egyptian company, is currently undertaking 10 significant projects on the North Coast, with a total business volume of EGP 15 billion, according to Tarek El-Gamal, Chairman of the Board, speaking to “Al-Sharq”.
El-Gamal anticipates this figure will increase substantially with the ongoing momentum in construction activities, boosted by the “Ras El Hekma” project, which has significantly heightened demand and interest in the area.
Redcon is responsible for constructing North Coast projects for major real estate developers, including two projects for Emaar, led by Emirati businessman Mohamed Alabbar, namely “Soul” and “Marassi”.
Additionally, the company is working on “Silver Sand” for Ora, owned by billionaire Naguib Sawiris, “Solario Ras El Hekma” for Egypt Italy, as well as “Gouna” and “Katameya Coast”.
Other notable projects include one of the towers in the new Alamein City “The Gate”, the new Alamein University, the Latin Quarter project, and the beach commercial area.
Regarding Redcon’s ventures in Saudi Arabia, El-Gamal disclosed to the “Weekend Cairo” program on Al-Sharq channel that Redcon International, a subsidiary, is currently executing a $250 million project in the Kingdom for Red Sea International, in partnership with its associate, Riadah Holding. He noted that the project heavily relies on technology.
Redcon Construction ranks among the top five Egyptian contracting companies based on its annual business portfolio, which amounts to EGP 20 billion in the Egyptian market.
The company’s projects span across the new administrative capital, the new city of Alamein, Hurghada, Marsa Matrouh, and the city of 6th of October. Additionally, they are executing the “Maspiro Towers” and the high-speed electric train project.
Regarding the train project, El-Gamal highlighted numerous challenges, including the COVID-19 pandemic, the Ukraine war, and currency pressures. The government, led by the Ministry of Transport, has made significant efforts to focus on completing the intensive low-cost phase, which relies on local components.
In May, the then Minister of Transport, Kamel El-Wazir, announced that the completion of the high-speed electric train stations would be by the end of this year, with the first train trial set for the first quarter of 2025, and passenger operations commencing in early 2026.
However, he mentioned potential delays in constructing the second line of the high-speed electric train but confirmed it was not cancelled.
