Schneider Electric and Paragon Developments have signed a cooperation agreement to enhance sustainability in the Egyptian real estate sector, Invest-Gate reports.

The agreement involves providing sustainable smart building management solutions from Schneider Electric, along with its EcoStruxure platform, to two private administrative building projects, namely Paragon 2 and Paragon 3.
The EcoStruxure platform is designed to manage major infrastructure facilities and serve as a model for state-of-the-art sustainable smart buildings. The solutions provided by Schneider Electric will take into account the specific economic, climatic, social, and cultural factors in Egypt.

The signing ceremony for this partnership took place during COP28 held in Dubai, UAE. Sebastian Reyes, President of Schneider Electric for Northeast Africa and the Levant, and Bedeir Rizk, CEO of Paragon Developments, were present at the event.

Reyes emphasized the need to find quick solutions to address climate change challenges, reduce carbon emissions, and optimize energy consumption. Schneider Electric aims to provide these solutions through its offerings.

Rizk expressed his vision of developing smart administrative projects that adhere to environmental sustainability standards. The partnership with Schneider Electric aligns with this vision, allowing Paragon Developments to implement sustainability solutions in their two projects in the New Administrative Capital. This commitment contributes to resource conservation, environmental preservation, increased productivity for employees, and positions Paragon Developments as one of the pioneering real estate developers in Egypt to implement such distinctive projects.