By Profayly
REDCON Properties – the newly established developer arm of REDCON Group, have signed a Memorandum of Understanding (MoU) with Honeywell (Nasdaq: HON) that outlines plans to incorporate advanced smart community and sustainability solutions at Golden Gate, the developer’s pioneering project in New Cairo.
The MoU provides a framework for collaboration between the companies, and paves the way for Honeywell to provide smart city, community and sustainability solutions along with consultation services for Golden Gate; REDCON Properties first mixed-used development, which will become Egypt’s benchmark for smart communities.
Ahmed Abdallah, Vice Chairman of REDCON Properties said: “Golden Gate is a critical project as it will set a benchmark of more sustainable communities. We want to collaborate with the best technology providers for smarter solutions incorporated in the project. We’re excited to explore this potential with Honeywell to support the success of our first community project as we build a unique lifestyle destination and set new basis in integrated services.”
“Honeywell is proud to collaborate with REDCON Properties to help set the standard for smarter and more sustainable communities in the important market of Egypt, while supporting the government’s plans to enhance urban living,” said Ahmed Saleh, business director, Honeywell Building Technologies, North Africa. “We look forward to working with REDCON Properties on making the Golden Gate project a reality and create an example for future communities in the region.”
Covering an area of 160,000 sqm in the heart of New Cairo, the Golden Gate community includes five districts comprised of mixed-use buildings, standalone offices, retail and a luxury shopping zone. The community will take a sustainability-first approach in its design and construction including the materials used for buildings and walkways and by incorporating renewable energy and water and energy efficiency solutions, electric vehicles and other features aimed at reducing its overall carbon footprint. Golden Gate is based on the values of sustainability and interconnectivity, designed to meet Egypt’s sustainability goals and wider climate change commitments.
Demonstrating capabilities to drive sustainability initiatives for buildings, Honeywell and Egypt’s Ministry of Communications and Information Technology signed an MoU late last year to advance the energy efficiency of government buildings across Egypt.
Egypt’s Vision 2030 has placed a strong emphasis on the importance of increasing innovation and achieving national development, both economically and environmentally. Urban expansion has been outlined as a key pillar within the Vision, in which forming smarter cities will help accommodate a growing population and improve quality of life.
Honeywell is committed to strategically expanding its presence in Egypt and North Africa, enabling more sustainable cities and communities and leading the digitalization of key industry verticals such as airports and transportation, datacenters, healthcare, commercial real estate and hospitality.
Operating from Cairo, Honeywell works with some of Egypt’s key government and private sector entities in the fields of smart cities, building automation, oil and gas, refining and petrochemicals, defense, aviation, infrastructure development, logistics, security and fire safety. The company has been present in Egypt for more than 50 years and is committed to providing the best talent and technologies to support development across Egypt’s major industries.