Modon Developments invests EGP 5bn in Green River Tower at Egypt's New Capital
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Egyptian developer Modon Developments is investing about EGP 5 billion in its Green River Tower in the New Administrative Capital, where construction has reached about 52% and completion is targeted within eight months.
Modon Developments is investing around EGP 5 billion in its Green River Tower project in Egypt's New Administrative Capital, with approximately EGP 1 billion already deployed, according to Jihad Fathy, the company's Head of New Capital Projects.
Fathy said construction completion has reached around 52%, with the company targeting completion of the tower within eight months. Facade, interior, finishing and electromechanical works are being launched in parallel with structural construction, and only about 15% of the project's units have been released for sale so far.
Green River Tower comprises three basement levels, a ground floor and 25 upper floors, offering a mix of commercial, administrative and hospitality components. It has a total built-up area of approximately 64,000 square metres and is located on Mohamed Bin Zayed Axis, overlooking the Green River and adjacent to the monorail station.
The developer says it is using post-tensioned slabs that allow formwork to be removed within five to six days, compared with up to three weeks under some conventional systems, with each floor of about 2,500 square metres completing its full structural cycle in around 20 to 21 days.
The project includes commercial, administrative and hotel components, with Modon having previously announced a partnership with Royal Maxim Hotels. Sustainability measures include solar panels and solutions aimed at reducing energy and water consumption, in line with New Capital requirements and the Egyptian Code for high-rise buildings.
Modon is simultaneously accelerating construction on its other New Capital projects, including M Business Tower, The Tower and Modon Mega Tower, and targets completing its ongoing developments in the capital within six months to one year, depending on each project's schedule.