REDCON Properties, a subsidiary of the REDCON Group, has recently announced a strategic partnership with Intro Utilities to offer the Golden Gate project comprehensive energy management and distribution solutions, comprising of solar energy generation.
According to Industry sources, this aligns in line with REDCON Propertiesโ vision to build up its esteemed project in New Cairo as a model for sustainable projects in Egypt and support Egypt Vision 2030.
Industry sources further confirmed that 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.
โTo 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,โ said Eng. Tarek ElGamal, Chairman of REDCON Properties โIn 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.โ
Ahmed Abdellah, Vice Chairman of REDCON Properties, added: โThe 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.โ
Hany Helaly, CEO of Intro Utilities stated โDecarbonization is not an overnight shift but rather a journey that starts with energy efficiency and utilizing all spaces available for solar energy, to implementing smart grids and ends with purchasing clean energy from power producers through the grid or from traders. In this context, Intro Utilities developed its energy management platform to monitor losses, power factors, 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.โย ย
Industry sources further added that Intro Utilities will take the onus of distribution and managing electrical energy within the project. Intro Utilities will also install solar power panels on the rooftops of buildings to build clean, renewable energy, thereby curbing the project’s reliance on conventional 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 permit real-time monitoring and management of electricity usage, powering 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.
Industry sources further confirmed that as REDCON Propertiesโ 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 additionally has the largest faรงade overviewing 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 offers to accomplish 9 of the United Nations SDGs. The firm will begin delivering units of the project in the final quarter of this year.
