A new joint venture between Innovo Build and REDCON Construction has secured a contract exceeding 12 billion Egyptian pounds for Modon Developments' flagship project in Egypt. The alliance will deliver infrastructure and contracting works for the "DP03 East" package at "Wadi Yam" in Ras El Hekma. Spanning 323,000 square metres, the 21-month project includes over 660 residential units, a commercial mall, scenic lakes, landscaping, and road paving.
Grova Developments, the real estate arm of Hassan Allam Holding, has appointed Hassan Allam Construction to build Grova Westfields in West Cairo under a USD 1 billion contract. Spanning 303 acres in Sheikh Zayed, the development features a five-star hotel, branded residences, luxury villas, and apartments. Delivered with Egyptian Kuwaiti Company for Real Estate Development, it follows the company's recent expansions in Cairo and Riyadh.
Marriott International has reached a milestone in Mexico by opening its 300th hotel, the Courtyard by Marriott Torreón. The expansion covers over 44,000 rooms across 25 brands, supported by a pipeline of 76 properties. With conversions accounting for 35 per cent of signed developments, Marriott plans to open more than 10 additional properties in Mexico before the end of 2026.
Britania Public Company Limited, the low-rise housing arm of Origin Property Public Company Limited, has launched eight residential developments in Thailand's Eastern Economic Corridor valued at over 8.8 billion baht. Situated across eastern Bangkok, Chachoengsao, Chonburi and Rayong, the projects offer detached homes, semi-detached properties and townhomes. The expansion targets rising housing demand driven by industrial investment and growing workforce numbers.
M&G Real Estate has completed the sale of Frontier Shinjuku Tower, a 24-storey mixed-use asset in Tokyo, following a 23% increase in net operating income. Disposed of 15 months ahead of the original investment timeline, the 298-apartment property underwent extensive asset enhancements and sustainability upgrades, securing Japan’s highest green rating, CASBEE S. The sale highlights sustained demand for prime rental housing in central Tokyo.
Redevco has agreed to a €49.2 million green loan facility to fund a 52,815 square metre logistics development in Tiel, the Netherlands. Issued to Financière ID, the project is over 70% pre-let to ID Logistics. The scheme incorporates a connection to the Medel Energy Island to manage local grid congestion, targets BREEAM Excellent certification and aims for 75% energy self-sufficiency through on-site solar power.
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