Modon Developments is preparing to launch the Green River Tower in the New Administrative Capital (NAC) with a total investment exceeding EGP 4.5bn.
The project is being developed by an Egyptian, Emirati, and Kuwaiti alliance.
Green River Tower is the 5th and latest project of the real estate developer. It is considered as a continuity to Modon Developments’ significant portfolio since it started its work in the Egyptian market last year; as it launched a number of projects in the NAC.
For his part, Modon Developments CEO Ahmed Osama said that the company’s mindset is built on Egyptian, Emirati, and Kuwaiti expertise with over 30 years of experience in the building and construction field.
Osama added that the company had developed around 80 projects and residential compounds in Egypt and also had built various projects in the UAE and Kuwait.
He also noted that Modon Developments will launch the administrative part of Green River Tower this March.
Furthermore, he elaborated that the five stars hotel tower is built over 60,000 sqm, with a height of 30 storeys.
It comprises administrative and commercial units and will be operated by a number of leading hotel management companies.
He revealed that the time frame of the project is four years and that the company is planning to start the delivery process before the scheduled time for contracting, according to its serious and committed policy.
Osama also disclosed that the phase to be completed this month is built over 15,000 sqm, while the total area of the administrative section of the project is over 20,000 sqm.
He added that the office areas vary from 35 to 1,000 sqm to comply with all companies’ needs.
Additionally, he said that the commercial part of the project is built over 13,000 sqm, and 20,000 sqm have been allocated for residential units.
He also disclosed that Modon Developments seeks to attract international trademarks and brands to the project, which was designed under the supervision of senior specialists at DMA for Designs and Engineering Consultancy, which has great experience in designing mega projects in Egypt and the Middle East.
Modon Developments implemented four other projects in the NAC, including the Central Iconic Tower, which is the first hotel in the Central Business District and was built over 4,104 sqm with a height of 18 storeys.
Total investment on the project amounts to EGP 1bn. Modon Developments owns lands in the NAC and New Alamein.
