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Cairo, Egypt: ROCC - REDCON for Offices and Commercial Centers, a fully owned subsidiary of Redcon Construction - has announced the groundbreaking of its flagship project, Golden Gate. The mixed-use project (Retail, offices, and entertainment) spans an area of 160,000 square meters with an investment of up to EGP 20 billion ( 1.25 Billion USD). With the most prime location in the heart of New Cairo, the project features the largest facade on the main spin leading in and out of New Cairo– 90 South Road and facing the American University in Cairo. The project is located between two monorail stations, which connects east and west of Greater Cairo making the project conveniently accessible from everywhere in Cairo.
Eng. Tarek El-Gammal, Chairman of ROCC, Mr. Ahmed Abdullah and Mr. Amal Abdel Wahed, Vice-Chairpersons, and Eng. Hisham Moussa, CEO & Managing Director of Redcon for Offices and Commercial Centers “ROCC” laid the cornerstone of the project. ROCC intended to complete the development of Golden Gate over two phases within 7 years. The first phase will witness the development of 128,000 square meters, comprising 25 buildings with a total of 160,000 square meters in built-up area. The project will feature standalone offices, office and retail buildings, and standalone retail. The first phase is scheduled to be delivered by the first quarter of 2024. The second phase will feature 4 retail and office buildings as well as standalone retail buildings on a total built-up area of 32,000 square meters.
Hisham Moussa, Managing Director and CEO of ROCC, stated that the company has a strategic vision to revolutionize the retail sector in Egypt and bring added value to the market through a unique and distinctive experience and offering. “We aim to change the retail development map in Egypt, by developing the area between the new and old capitals through Golden Gate project. The Egyptian economy has underwent a large-scale improvement over the recent years., with sizable investments in infrastructure, road network and axes.”
Moussa added that the company works towards achieving sustainability and holistic excellence according to international standards and quality, in line with Egypt's Vision 2030 and its objectives to lure investments in specialized retail, administrative offices, and service entities.
"Golden Gate project is the flagship project of ROCC REDCON for Offices and Commercial Centers. The project is set to be an unprecedented boom in the retail and mixed-use developments sector in Egypt. As the mother company REDCON brings over 3 decades of experience in the construction sector to Golden Gate, we are sure that we will adapt to this dynamic market and its continuous changes and demands." stated Eng. Tarek El-Gammal, Chairman of ROCC.
" Golden Gate project is based on state-of-the-art modern architecture and engineering solutions, most prominent of which is green architecture which aims to reduce energy and resources consumption while minimizing the effects of construction and operations on the environment,” he continued.
To develop the best architecture designs for Golden Gate, ROCC cooperated with 6 of the top specialized consulting firms, most notably, WATG Office in London, Consulting Engineering Consultants Group (ECG), Dr. Amr Abdel Rahman Consultant Engineers (AACE), International Consulting Engineers (ICE)-Dr. Osama Okail, and the Engineer’s office Hani Ali "EMG" to develop a design that combines modernity and originality in line with the surrounding urban fabric, and, at the same time, reflects the Egyptian spirit, culture and civilization and the atmosphere of the old downtown area.
Golden Gate project offers a one-of-a-kind retail and entertainment experience through the concept of "street retail". The project is set to feature diverse high-end brands for all age groups, as well as cinemas, a hypermarket, and entertainment venues. Golden Gate project will also encompass stand-alone office buildings, and the largest underground parking lot in New Cairo spanning two levels below ground, and taking up to 100 percent of the land area.
ROCC REDCON for Offices and Commercial Centers is one of REDCON Construction companies, and was founded to develop mixed-use real estate projects, with a paid-in capital of EGP 5 billion and an issued capital of EGP 1.5 billion.
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