Riyadh – Sharikat Mubasher: Redcon Construction, one of Egypt’s key contractors, is exploring new development opportunities in Abu Dhabi as part of its broader regional expansion plan in countries including Saudi Arabia and Iraq.
In an interview with Asharq’s TV show, Tarek El-Gammal, the Chairman, added that the company has already secured work in Abu Dhabi’s industrial zone and is in talks with Modon Holding, the master developer behind Egypt’s Ras El-Hekma project, which expressed a need for three times more contractors than currently available in Egypt.
In Saudi Arabia, Redcon is executing a $250 million project for Red Sea Global in partnership with Riyadah Holding. The company is also involved in the high-profile Amaala project and expects to sign additional contracts, spurred by the Kingdom’s preparations for major events like the World Cup and Asian Games. A delegation from the Saudi Contractors Authority is set to visit Egypt on 10–11 May, with discussions around the golden license anticipated.
Meanwhile in Iraq, Redcon has partnered with Egypt’s Ora Developers, owned by billionaire Naguib Sawiris, on a 15,000-acre residential development. El-Gammal confirmed that Redcon has completed the setup of its local office and is preparing to launch operations.
Redcon aims to generate 50% of its total revenues from international markets within the next four to five years, while continuing to capitalize on growth opportunities in Egypt.
