Redcon Construction to execute works worth EGP20bn within 3 years, chairperson
Redcon Construction grew exponentially in terms of business volume, the added value of constructions and the execution of mega national projects with exceptional technical and construction specifications.
With such an outstanding track record placed in the background, the company could say a lot about its ability as a pioneering Egypt-based construction company with a competitive edge in the global market.
In an interview with Osoul Misr Magazine, Chairperson and Chief Executive of Redcon Construction Eng. Tarek Al-Gammal shed a light on the company’s strategy for the current period and far beyond throughout 2021 as well as its mechanisms for coping with world developments and delivering quality projects on time.
“ Redcon Construction eyes the completion of launches worth EGP6bn, on a par with works finalized throughout 2019, reflecting the company’s success in overcoming Coronavirus-induced challenges and scoring the targets amidst the current headwinds that triggered a drop in economic growth and investments across the world as well as a rise in unemployment rates.”
We handled the crisis wiftly using highest precautionary measures
“The company handled the crisis in a very positive way, as works never halted except for two weeks in order to readjust to the new circumstances and take all precautionary measures conducive to protecting workers whose health conditions are quite prioritized by the company.”
Redcon Construction heeded promptly the call raised by Minister of Housing, Utilities and Urban Communities Dr Asem El-Gazar persuading contractors to return to their work sites while taking tough safety measures, he elaborated.
Consequently, only a handful of infection cases, equal to just 0,1%, were reported among workers, all of whom were fully recovered upon receiving the adequate treatment on the spot.
“ Workers played a significant role in handling this challenge, executing and finishing off quality works as scheduled. They were so happy that the company never cut their salaries nor benefits and put in place highest preventive measures.”
Up to 30,000 Indirect labour were on work sites
Redcon Construction’s direct labour amounts to 4000 workers and indirect labour to 30,000, with the company recording the least resignations among its workforce.
For the next three years, the company has concluded deals worth EGP2bn during 2020 with public and private companies.
The company has set the target of finalizing a workload worth EGP7bn by 2021, he said, noting that it is keen to start launches in new promising areas, notably the railways.
Maintaining a standard of excellence
In the span of 27 years, Redcon Constructions has executed ritzy famed buildings in the Greater Cairo, governorates and the New Urban Communities.
The company strives to upgrade its mechanisms as regularly as possible so as to cope with the market needs and changes along with upgrades in the field of constructions across the world, he added.
The company has also a special interest in training and honing the skills of its workforce, as up to 60% to 70% of multinational prime administrative towers were executed by Redcon Constructions.
Finishing off one of the Gate Tower at New Al-mein late 2021
The company is carrying out on behalf of the state upscale 4th-generation projects, such as The Gate Towers, an iconic exceptional launch in the Egyptian market.
The 4,000-high, 46-storey Gates Towers are ranked among the highest skyscrapers to be built over an area of 250,000sqm in the Meditereanian sea, he said, noting that the company has drilled up to 60m piles for the towers spanning an area of 60 acres.
The towers’ buildings, nearing completion in a record time, will be handed over late 2021.
The iconic tower underwent testing in Australia to withstand environmental pressures.. the materials used in building the tower help it have a lifespan of 100 years
With the tower overlooking the sea and the lake, particular construction specifications put in place to handle the environmental circumstances and changes became a prerequisite.
High-strength concrete underwent testing in Australia in order to withstand the sharpest weather circumstances and changes.
With an international company being hired to do this job, regular maintenance checks will be put in place in order to protect the buildings and facades, as “ the building materials can easily guarantee a lifespan of 100 years for the towers.”
The company is also engaged in executing EGP1bn amusement park at New Al-mein City, he noted.
Redcon Construction is also building faculties for International law, computing, engineering sciences (1,2) at the New Al-mein University. Additionally, a dormitory spanning an area of 250,000m and is scheduled to be delivered in 2021, is under construction.
The coastal city of Borg El-Arab saw the construction and finishing of a solar plant by Redcon Construction at the Japanese University. Moreover, the company is carrying out New Alexandria’s Sawary project on behalf of the Ministry of Housing, Utilities and Urban Communities.
Redcon Construction is executing works at the New Administrative Capital, namely the construction of one tower at Money and Business District along with the Green River over an area of 100 acres with a business volume of EGP EGP1.2bn.
The Green River project started off early this year and is scheduled to be delivered in June, 2021.
The company is executing three mega projects on behalf of the state, namely the development of Ein El-Seera district, as the project’s master plan includes the creation of vast green areas, restaurants, caffes, recreational activities along with Ein Seera Park.
To help set up the latter, the underground water was re-used for the benefit of this park and controlled so as to make it less harmful to facilities and roads. The volume of works executed by the company ranges from EGP400mln to EGP500mln.
Included in Ein Seera Park development works is the renovation of Fostat Road, Ein El-Hayat Road, connecting the latter with Khayala Road and the Ring Road.
Also included are the renovation of Magra El-Ayon Street and linking it with Salah Salem Road while evacuating and compensating the inhabitants of the nearby slums.
Redcon Construction is one of three companies working in Maspero Triangle Revamping, a project involving the construction of buildings, administrative and commercial units and is scheduled to be finalized within two years.
Redcon Construction will also take part in developing the first phase of Warrak Island project.
Ongoing collaboration with leading developers such as Ora, SODIC, Emaar Misr, Palm Hills, and Mountain View
Redcon Construction chairperson referred to the company’s ongoing collaboration with leading developers including Emaar Misr, SODIC, Palm Hills, Mountain View, Capital Group, Tabark Holding, Hyde Park, Better Home, New Giza and City Edge.
Lately, Redcon Construction concluded a cooperation deal with Ora Developers to execute construction works of a new phase of ZED Sheikh Zayed, he explained.
The company is executing two malls at the New Administrative Capital on behalf of Better Home and 150 villas at Marasi North Coast on behalf of Emaar Misr, as the latter is scheduled to be delivered late this year.
“ The company is bound by delivery deadlines and approved quality specifications so as to cement relations with leading private developers.”
Modernizing equipments at costs ranging from EGP600mln to EGP700mln
Government of prime minister Dr. Mostafa Madbuly proved to be keen to have trust in Egyptian companies, which were awarded mega national projects and were thus given a boost in the direction of honing their skills and fueling their pursuit of excellence.
During the past year, Redcon Construction sought to upgrade its technical and practical capabilities, as it bought new equipment ranging from EGP600mln to EGP700mln along with advanced software that were first used by Redcon Construction among a few other Egyptian companies.
Also, the company has raised security precautions at work sites and is always keen to upgrade workforce efficiency.
Governmental lenders are issuing letters of guarantees within two days .. Redcon Construction cooperate with 15 state-owned and private banks
Domestic lenders fared well in handling the coronavirus crisis that squeezed developers, as the Central Bank of Egypt launched an initiative extending 8% loans which helped resolve many of the former’s problems. Redcon Construction was in contact with Governor of Central Bank Mr. Tarek Amer, lenders and developers.
A letter of guarantee could now be issued in the span of one working day, down from 3 to 4 weeks during the past few years, testifying to the speed and swiftness of executing banking procedures at the present time, he said.
The company is cooperating with 15 state and private banks, notably the National Bank of Egypt, Banque Misr and Banque Du Caire, he explained.
