Cairo: REDCON Properties, a subsidiary of the REDCON Group, has announced a strategic partnership with Intro Utilities to provide the Golden Gate project with comprehensive energy management and distribution solutions, including solar energy generation. This aligns with REDCON Properties’ vision to establish its esteemed project in New Cairo as a model for sustainable projects in Egypt and support Egypt Vision 2030.

The partnership was signed by Mr. Ahmed Abdellah, Vice Chairman of REDCON Properties; Mr. Amal AbdelWahed, Vice Chairman of REDCON Construction; Eng. Mohamed AbdelMageed, CEO of REDCON Properties; and Mr. Hany Helaly CEO of Intro Utilities, in the presence of senior executives from both companies, including Mr. Mohamed Abbass, Chairman of Intro Sustainable Resources and Mr. Hatem Soliman, CEO of Intro Group.

Intro Utilities will take charge of distributing and managing electrical energy within the project. Additionally, Intro Utilities will install solar power panels on the rooftops of buildings to generate clean, renewable energy, thereby reducing the project's reliance on traditional energy sources and minimizing its carbon footprint. To further optimize energy consumption, Intro Utilities will also deploy a smart grid system. This advanced technology will enable real-time monitoring and management of electricity usage, leading to improved network performance and reduced energy losses. Furthermore, retail, offices and businesses within the project will benefit from a convenient mobile application that simplifies bill payments and allows for easy tracking of their energy consumption.

“To achieve our goal of making Golden Gate a model sustainable project in Egypt, we aimed to partner with leading specialized companies to provide sustainable and smart solutions that meet the requirements of environmental preservation and carbon emissions reduction,” said Eng. Tarek ElGamal, Chairman of REDCON Properties “In addition to its energy distribution activities within the project, Intro Utilities offers clean energy solutions that align with our vision to create an integrated and sustainable environment at Golden Gate.”

Ahmed Abdellah, Vice Chairman of REDCON Properties, added: “The implementation of the latest sustainable and smart solutions at the Golden Gate project will reduce operating costs for our customers through energy and water conservation. Daily consumption monitoring through an advanced digital platform will allow our customers to track their usage, enhancing transparency and efficiency and enabling them to make better decisions regarding their resource management. We are confident that Intro Utilities will provide innovative facility management solutions that will improve the quality of life experiences.”

Hany Helaly, CEO of Intro Utilities stated “Decarbonization is not an overnight shift but rathe a journey that starts with energy efficiency and utilizing all spaces available for solar energy, to implementing smart grids and end with purchasing clean energy from power producers through the grid or from traders. In this context, Intro utilities developed its own energy management platform to monitor losses, power factor, bidirectional metering, and online payments. We are humbled by our partnership with REDCON and excited to start the decarbonization journey together. We understand that the green transition is a journey, and we work closely with our partners to deliver tailored solutions to their energy needs”   

As REDCON Properties’ flagship project, Golden Gate is a commercial, entertainment, and administrative development spanning over 160,000 square meters in New Cairo City, with a total investment of EGP 15 billion for the first phase. The project features the largest façade overlooking South Ninety Street, stretching 1.25 kilometers in front of the American University in Cairo. Golden Gate adopts a sustainability approach from the design stage to construction, where REDCON Properties contributes to achieving 9 of the United Nations SDGs. The company will begin delivering units of the project in the final quarter of this year.

About REDCON Properties

Established in 2019, REDCON Properties emerged as the real estate development flagship of the esteemed REDCON Group. The Company's core expertise lies in the crafting of multifaceted real estate endeavors, distinguished by a steadfast commitment to sustainable practices. This commitment is exemplified in its inaugural project, Golden Gate, where sustainable construction and green architectural principles were meticulously employed. Leveraging a rich legacy of over three decades in the construction domain, REDCON Properties draws from the extensive experience of REDCON Construction, a subsidiary that has successfully delivered a portfolio exceeding 200 projects. Notable amongst these are the Alamein Towers, Maspero Towers, Mansoura University, FAB Headquarters, Pharco Company, ABB Company, and a plethora of other distinguished ventures.

About Intro Utilities

INTRO UTILITIES is an integrated power and utilities company dedicated to leading the energy transition towards decarbonized, reliable, and affordable energy systems. Through innovative business models, technological advancements, and extensive energy market experience, INTRO UTILITIES provides tailored solutions to meet the specific needs of its partners, aligned with country-specific energy roadmaps.

INTRO UTILITIES has developed a total of 10MW of solar power, including two 5MW solar plants in Sharm El Sheikh - one under the Feed-in Tariff (FiT) program and the other developed to power COP27. Additionally, the company has implemented energy efficiency solutions by developing three Combined Heat and Power (CHP) plants with a total capacity of 17.5MW. INTRO UTILITIES's operations also include desalination plants of a total capacity of 1500 m3/day and electricity distribution services with a total combined commercial and residential projects capacity of 33 MW, positioning itself as a one-stop-shop for all utility services.