Modon Developments Invests EGP 5Bn In Green River Tower At New Capital

(MENAFN- Daily News Egypt) Modon Developments is investing around EGP 5bn in its Green River Tower project in the New Administrative Capital, with approximately EGP 1bn 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. Façade, interior, finishing, and electromechanical works are being launched in parallel with structural construction.

The company has released only around 15% of the project's units for sale so far, with additional phases expected to be offered as construction progresses.

Green River Tower comprises three basement levels, a ground floor, and 25 upper floors, offering a mix of commercial, administrative, and hospitality components. The project has a total built-up area of approximately 64,000 sqm and is located directly on Mohamed Bin Zayed Axis, overlooking the Green River and adjacent to the monorail station.

The company is also using post-tensioned slabs, enabling formwork to be removed within five to six days, compared with up to three weeks under some conventional systems.

Each floor covers approximately 2,500 sqm, with the company completing the full structural cycle - including columns, walls, and slabs - in around 20-21 days. Ready-made formwork systems are also being used to accelerate construction.

The company expects to begin curtain wall façade works within two to three months, while interior construction, MEP works, and finishing will proceed simultaneously to compress the overall construction schedule.

The project includes commercial, administrative, and hotel components, with Modon previously announcing a partnership with Royal Maxim Hotels. Office units will be delivered fully finished to a super-luxury standard, while hospitality units will follow specifications required for hotel operations.

Green River Tower will also incorporate sustainability measures, including 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.

Fathy said Modon is simultaneously accelerating construction across its other New Capital projects, including M Business Tower, The Tower, and Modon Mega Tower. The company targets completing its ongoing developments in the capital within six months to one year, depending on each project's construction schedule.

Its New Capital portfolio also includes Central Iconic Tower, Modon Hotel & Residence, and an international school.

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