Redcon for Offices and Commercial Centers (ROCC) announces that Golden Gate, its first project in New Cairo, generates sales of more than EGP 1 bn within 9 months of 2022, Invest-Gate reports.

The company reveals that it seals lease contracts for over 3,000 sqm with 23 international brands.

Tariq El-Gammal, Chairman of Redcon, states that this success comes as a result of the company’s adoption of sustainable development principles, as it applies the principles of green architecture in developing the Golden Gate project as a sustainable mixed-use project.

For his part, Ahmed Abdullah, Vice Chairman of Redcon, highlights that the results that the Golden Gate project achieves within 9 months of its launch, especially contracting with many brands before the start of delivery in 2024, confirm the project’s attractiveness to investors.

Redcon aims to achieve sales revenues of EGP 5 bn during the year 2023, in addition to rental contracts, Abdullah adds.

Situated on a total area of 160,000 sqm in New Cairo, the Golden Gate has an investment cost of EGP 20 bn. The project’s first phase extends to an area of 128,000 sqm.

The first phase includes 25 integrated buildings, including administrative, commercial, entertainment, open spaces, and indoor pedestrian walkways.