Golden Gate's cumulative sales reach EGP 23bln as REDCON Properties sets new industry benchmark

Zawya

10-02-2025

Cairo: REDCON Properties, a subsidiary of REDCON Group, has announced record-breaking sales for 2024, reaching EGP 12 billion, bringing its cumulative sales to EGP 23 billion since the launch of the Golden Gate project in 2022.
Golden Gate has maintained its position as the top-selling mixed-use development in East Cairo, reaffirming its status as one of Egypt's premier real estate projects. This success is attributed to customer confidence in REDCON Group's extensive expertise in construction and real estate development, alongside Golden Gate's exceptional competitive advantages that set it apart in the market.
'The remarkable sales growth of Golden Gate is a testament to our ability to deliver real estate projects that meet market needs while also serving as a benchmark for sustainable architecture,' Eng. Tarek El-Gammal, Chairman of REDCON Properties. 'Moving forward, we remain committed to developing similar projects that add value to Egypt's real estate sector while ensuring the timely execution of Golden Gate as per the established schedule'.
"We invested EGP 5 billion in 2024 to accelerate Golden Gate's development, achieving remarkable progress in construction and initiating the handover of the first phase to our clients. In 2025, we plan to increase our investments to EGP 7 billion to inaugurate the first phase by the third quarter while aiming to achieve EGP 18 billion in sales by year-end." He added.
Launched in 2022, Golden Gate is a landmark mixed-use development spanning 160,000 square meters in the heart of New Cairo, with total investments of EGP 20 billion. The project features 29 buildings, comprising commercial and administrative spaces, designed across five distinct zones within the development.
To bring this vision to life, REDCON Properties collaborated with a consortium of renowned consulting firms, including WATG London, SWA for landscape design, Dr. Amr Abdelrahman Consulting Engineers (AACE), Omran & Arc Vision for architectural design, and Eng. Hani Ali's EMG, ensuring a design that seamlessly blends modernity with heritage, aligning with the surrounding urban fabric. Additionally, EHAF Consulting Engineers oversees construction supervision, while Polar Project Management is responsible for project management. Dr. Osama Aqil leads traffic and road planning, and Walker Consultants, one of the world's leading firms in parking solutions, has designed Egypt's largest indoor parking facility within Golden Gate, accommodating 8,000 vehicles.
Strategically located in the heart of New Cairo, Golden Gate boasts the largest frontage overlooking South 90th Street, directly opposite the American University in Cairo (AUC). The development offers a unique retail and entertainment experience, incorporating the walkable downtown concept, alongside sustainability-driven solutions that reduce energy consumption by 53% and water usage by 44% compared to traditional buildings.
Golden Gate stands as Egypt's largest green mixed-use development, fully adhering to environmental sustainability standards across construction and operations, in alignment with the United Nations Sustainable Development Goals (SDGs). REDCON Properties has partnered with Intro Sustainable Resources to implement smart, sustainable energy solutions, integrating solar power as a key electricity source, thereby reducing the project's carbon footprint. As a result of these efforts, Golden Gate has earned both the EDGE certification from the International Finance Corporation (IFC) and the Tarsheed certification from the Egyptian Green Building Council, making it the first commercial complex in Egypt to receive these combined sustainability credentials.
-Ends-
About REDCON properties:
REDCON Properties was established in 2019 as the development arm of REDCON Group, specializing in mixed-use real estate projects. The Company operates with sustainability as its core value, where it leads the Egyptian real estate sector in the implementation of sustainable building and green architecture, with Golden Gate as its first flagship project. REDCON Properties derives its heritage from 30 years of experience with REDCON Constructions, which delivered more than 200 projects, among which are El Alamein Towers, Maspero Towers, Mansoura University, ABB, Pharco, Electrolux, First Abu Dhabi Bank – the Company's first green building that received a LEED silver certificate for its leadership in energy-saving designs and conservation of the environment.