Ora Developers Egypt Signs 950 million EGP Agreement with Redcon and Concrete for the Construction of ZED East Project
Ora Developers Egypt, one of the market’s leading real estate companies, announced today that it has signed two construction agreements, worth around EGP 950 million, with leading contractors Redcon Construction Co. and Concrete Plus for Engineering and Construction for the construction of phase 01 villas of ZED East project.
Additionally, Ora Developers Egypt has also announced that it has signed a deal with the British leading professional services firm – Jones Lang LaSalle to provide leadership and oversight of the management and construction for the project from planning to handing over to end users.
The ZED East project is ideally located between New Cairo and the New Administrative Capital and will serve as the go-to destination based on a self-sustainable community, hosting all sorts of activities.
The project does not only interweave mixed-use facilities into its master plan but will also incorporate a revolutionary recreational and sports club that will include football pitches, squash, tennis, and paddle courts in addition to an indoor multipurpose court.
The club will also offer wide green spaces for the community to enjoy as well as a kid’s area, a clubhouse and a range of restaurants and cafes.
Haitham Mohamed, CEO of Ora Developers Egypt stated: “Ora Developers’ goal has always been to provide the best-in-class solutions and ensure outstanding results and quality. Signing with Redcon Construction Co. and Concrete Plus for Engineering and Construction, two of Egypt’s leading contractors who are known for their exceptional performance, confirms our commitment to constantly strive at delivering exceptional quality in our projects”.
Tarek Elgamal, CEO of Redcon Construction Co. commented: “We are thrilled to continue working together with Ora Developers Egypt and building on our portfolio of work together. Seeing the progress that the company has been doing over the past few years, and witnessing it grow to become one of the leading companies is encouraging. We are glad we get another chance of being part of their success”.
Tarek Youssef, CEO of Concrete Plus for Engineering and Construction said: “We are honored to work alongside Ora Developers Egypt for the first time on one of their projects. ZED East is one of the most beautifully designed and luxurious compounds and our company objective of delivering excellence matches perfectly with this opportunity. We seek to strengthen our collaboration and expand our strategic partnership with one of the market’s leading real estate companies.
Phase 01 Villas of ZED East project comprises around 400 fully finished residential units over a total land area of approximately 56 feddan including apartments, duplexes, townhouses, and villas. The Contractors started the mobilization works on-site and the project is scheduled for completion within 30 months.
