PARAGON Real Estate Developments signs a pre-award agreement with Schneider Electric Egypt to build state-of-the-art multi-use buildings in its flagship project Paragon 1 Admin Building in the New Administrative Capital (NAC), Invest-Gate reports.

The new facilities will incorporate the latest technologies including the internet of things (IoT).

Schneider Electric will supply advanced technologies to the Paragon 1 Admin building project, in partnership with industrial and commercial customers.

The project aims to boost the safety, reliability, efficiency, connectivity, and sustainability of key infrastructures in future cities.

Bedeir Rizk, CEO of PARAGON Developments, says: “Sustainability turns out to be the focal point of urban planning and real estate development nowadays, as a result of the SDGs being one of the forces behind the development of smart cities.”

“As Egypt moves forward with its sustainability plan through 4th generation’s cities, we aim to help real estate developers fulfill their strategy and vision by expanding in sustainable smart cities with best-in-class quality through our cutting-edge technological solutions,” Sebastien Riez, Cluster President of Schneider Electric Northeast Africa and Levant, comments.

Furthermore, a group of local and global experts from Schneider Electric Egypt will be assigned under the pre-award agreement to cooperate with PARAGON Developments head committee to finalize the technical requirements for specific packages.