Egypt’s Redcon Construction has poured the concrete for the first residential tower in the so-called Maspero Triangle in central Cairo, said its chief executive on Monday.
Hossam Nassar said his firm was mandated to develop over the past three months the tower in Maspero – an area owned by Egyptian, Saudi, and Kuwaiti companies, which was cleared of slum housing early 2018.
“We have so far executed the initial works of the tower, at a value worth 100 million Egyptian pounds ($6.1 million),” Nassar said.
The tower is part of a major residential project comprising of four 25-storey towers, due for completion at the end of June 2020, he added. The cost of each tower is estimated at 1 billion pounds approximately.
Three giant construction companies; Arab Contractors, Hassan Allam, and Redcon have been tasked with developing three towers in Maspero project.
