Schneider Electric, a leading energy management and automation player, has joined forces with Redcon Properties at COP28 in Dubai, signing a landmark memorandum of understanding (MoU), Invest-Gate reports.
This partnership aims to integrate AVEVA’s advanced software solutions, provided by Schneider Electric, into Redcon Properties’ flagship venture, the Golden Gate project in New Cairo, Egypt. It is a move that will set a new standard for smart, sustainable communities in the region.
The MoU signing involved key figures from both entities, including Ahmed Abdullah, Vice Chairman of Redcon Properties, who stressed the importance of green buildings in enhancing the Egyptian real estate sector’s environmental, economic, and social dimensions.
Moreover, the collaboration involves an investment of EGP 20 bn from Redcon Properties, allowing Schneider Electric to integrate AVEVA software into Golden Gate’s operating systems. This includes deploying the AVEVA unified operations center to visualize enterprise-wide operations securely.
Sebastian Riez, Schneider Electric’s Cluster President of Northeast Africa and Levant, highlighted the significance of combating climate change by reducing carbon emissions and rationalizing energy consumption. The company aims to be a preferred partner for Egyptian real estate developers, offering cutting-edge sustainable technologies for smart buildings.
Furthermore, Redcon Properties’ Chairman, Tarek El-Gamal, emphasized the value of integrating sustainability across their projects, underscoring the strategic partnership with Schneider Electric to drive sustainable building development.
Also, Nayef Bou Chaaya, AVEVA Vice President for the Middle East, Africa & Turkey, emphasized the role of AVEVA’s advanced software, bolstered by IoT and data analysis, in central control for flexible operations, reduced energy consumption, and achieving net-zero carbon emissions.
Notably, the Golden Gate project, spanning 160,000 sqm in New Cairo, comprises distinct districts housing offices, commercial units, and a luxury shopping area, setting a benchmark for sustainable urban development.