PARAGON Developments seeks to become the biggest developer of smart and sustainable projects in Egypt, the company’s CEO, Mohamed Bedeir, states on the sidelines of the roundtable organized by Invest-Gate on October 12th with the title “4th Generation Cities: Opportunities & Challenges”.
The attendees of the event discussed business opportunities in fourth generation cities and the actualization of sustainable green urbanization.
They also tackled challenges facing developers in relation to the global economic crisis, along with problems facing investors in new cities, and incentives for the attraction of foreign investments.
Bedeir notes that his company believes that generating profits cannot come at the expense of the planet, so the company adopts a strategy based on developing sustainable and eco-friendly projects to cut the contribution of the real estate sector to carbon emissions.
He adds that the company has already started the application of its vision and launched smart projects that offer the latest technologies in construction, management, and operation to offer the best levels of services to its clients while adhering to sustainability criteria in design and construction.
Bedeir highlighted the positive outcomes of adopting green construction criteria in its projects, including increasing Egypt’s real estate exports, as foreign clients account for 82% of the company’s sales.
It is worth noting that PARAGON generated EGP 1.2 bn in sales from its two projects in the New Administrative Capital; PARAGON 1 and PARAGON 2.
PARAGON 1 is the first smart administrative building in NAC. It includes seven floors, in addition to a ground floor, occupying a built-up area of 23,316 sqm. The project was sold completely while under construction.