People & Places Signs EGP 500m Contract with RedCon Construction to Fast-Track Development of The Med Ras El Hikma

People & Places (P&P), up and coming community maker renowned for its visionary real estate developments, announced a strategic contract with RedCon Construction, one of Egypt’s most prominent construction firms. This agreement represents an investment of EGP 500m and underscores P&P’s commitment to expediting the development of its highly anticipated project, The Med Ras El Hekma.

The agreement between People & Places and RedCon focuses on the construction of the skeleton and external finishes for the first phase of “The Waterfall Village” designed by Alchemy Architecture. RedCon’s proven expertise and track record will ensure efficient and high-quality construction, with a projected completion timeframe of 18 months.

This collaboration with RedCon Construction further accelerates the ongoing progress at The Med, where the P&P has achieved impressive milestones. Rough grading for the first phase of The Gray Cabanas is now complete, and The Gray Cabanas’ skeleton construction is almost done. For the Mediterranean Villas, rough grading is almost finished, with a contractor awarded and skeleton works already underway. Paving the way for the next phase, rough grading for The Waterfall Village has reached 40% completion and construction of this phase will now be undertaken by RedCon under the terms of this contract prioritizing sustainable practices.

“We are excited to join forces with RedCon Construction for the development of The Waterfall Village,” said Karim El Assal, Founder of People & Places. “Their expertise and dedication to quality and sustainable construction align perfectly with our vision for The Med. This collaboration allows us to expedite the project’s timeline, ensuring our residents can enjoy their dream beach homes the soonest.”

Amal Abdel Wahid, Vice Chairman and Managing Director of RedCon Construction, expressed his happiness with the collaboration with People & Places on The Med-Ras El Hikma project, which is considered one of the leading and distinguished projects.

Abdel Wahid emphasized that one of People & Places’ key requirements is to implement sustainable and environmentally friendly technologies, a criterion that aligns perfectly with RedCon’s strategic goals and vision.

As People & Places’ inaugural and flagship project, The Med Ras El Hekma has garnered significant attention. This year, for the second consecutive year, The Gray Beach Club will open its doors this month to welcome clients and community members, offering exclusive hospitality by the crystal-clear waters, complemented by world-class amenities and unparalleled service.

The Med Ras El Hekma also recently celebrated the successful launch of its collaboration with LA7 Hotels, with the first phase of Geo, LA7 Homes, achieving rapid sell-out. This underscores the unwavering trust clients place in People & Places’ vision and development expertise.

The company’s substantial land bank of 2 million square meters and a total investment portfolio exceeding EGP 110 billion, encompassing both The Med and Hills of One, solidify its position as a key player in the Egyptian real estate landscape.