Modon Developments Invests EGP 5 Billion in NAC’s Green River Tower
Modon Developments is investing approximately EGP 5 billion in the “Green River Tower” project in the New Administrative Capital (NAC). The value of investments pumped into the project to date has reached roughly EGP 1 billion, according to Eng. Jihad Fathi, the company’s Director of NAC Projects.
Fathi stated that the company has achieved a 52% completion rate for the project's structural works. Modon targets the full completion of the tower within eight months, running parallel to the commencement of facade installations, interior building works, finishes, and electromechanical works.
He added that the company has offered only about 15% of the project’s total units for sale so far, reflecting a strategy to expand its offerings in tandem with the advancement of construction rates.
3 Basements, Ground Floor, and 25 Stories
Fathi explained that the Green River Tower consists of three basement levels, a ground floor, and 25 upper stories, comprising a diverse mix of commercial, administrative, and hospitality activities.
The development features retail shops alongside office spaces and hotel units, with the hospitality component representing a major part of the project.
The total built-up area of the project spans approximately 64,000 square meters, according to data from SIAC Construction, the contractor executing the project's structural framework.
Strategically positioned, the Green River Tower is located directly on the Mohamed Bin Zayed Axis, overlooking the Green River, and sits adjacent to the monorail station, according to data from Modon Developments.