Modon Developments is investing about EGP 5 billion ($98 million) in its Green River Tower, as Egypt’s New Administrative Capital draws further investment into commercial and luxury real estate.

The Egyptian-Kuwaiti developer has already deployed about EGP 1 billion ($19.6 million) on the project, according to Jihad Fathy, Modon’s head of New Capital projects.

Construction reaches 52%

Construction of Green River Tower is about 52% complete, with Modon targeting delivery within eight months. Curtain wall façade works are expected to begin within two to three months, while interior construction, mechanical, electrical and plumbing works and finishing will advance simultaneously.

The company is using post-tensioned slabs that allow formwork to be removed within five to six days, compared with as long as three weeks under some conventional construction methods. Each structural cycle, covering columns, walls and slabs, takes about 20 to 21 days.

Modon is also accelerating work on other New Capital projects, including M Business Tower, The Tower and Modon Mega Tower, with completion targeted within six months to one year depending on each project’s construction schedule.

Mixed-use tower targets luxury market

Green River Tower will comprise three basement levels, a ground floor and 25 upper floors, with about 64,000 square meters of built-up area.

Located directly on Mohamed Bin Zayed Axis, the development overlooks the Green River and sits next to a monorail station. Each floor covers about 2,500 square meters and will accommodate commercial, administrative and hospitality uses.

Modon has partnered with Royal Maxim Hotels for the project’s hotel component. Office units will be delivered fully finished to a super-luxury standard, while hospitality units will meet hotel operating specifications.

Only about 15% of the project’s units have been released for sale, with additional phases expected as construction progresses.

Sustainability and expansion

The tower will include solar panels and systems designed to reduce energy and water consumption, aligning with New Capital requirements and Egypt’s high-rise building code.

Founded in 2020, Modon Developments is an Egyptian-Kuwaiti real estate company established by business leaders and engineers with more than 30 years of combined experience.

The company focuses on premium mixed-use developments, combining residential, commercial and hospitality projects with an emphasis on luxury, design and lifestyle.