REDCON Sells 50% of its Blue Capital Project to Swiss Company

Monday, 16th January 2017

REDCON for Real Estate has sold 50% of its Blue Capital office project located in New Cairo to ABB for Green Technology to a Swiss company, according to a press release.

ABB Group attained 8,300 square meters from the project at a total cost of EGP 150 mn. The project is considered eco-friendly and spreads on a total area of 17,000 square meters whereas the building contains seven floors, two floors below ground, and a parking lot.

REDCON is also currently implementing three office projects in New Cairo encompassing a total area of 70,000 square meters at an investment cost of EGP 1 bn. The company was previously certified a “Leader of Solar and Environmental Designs” by the U.S Green Building Council for operating its office buildings using solar energy.

Additionally, REDCON has developed an eco-friendly office building called Green Edge that was sold to Bank Audi for EGP 550 mn in 2016, spreading on a total area of 35,000 square meters in Road 90 in New Cairo.

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