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.
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.
Samsung C&T Corporation has secured official technical certification from the Korea Concrete Institute for its precast concrete beam-column dry connection method. The assembly system eliminates internal load-bearing columns to support the company’s Next Home spatial layout while achieving high-level seismic resistance. By using engineered steel brackets and bolts, the dry joint method speeds up on-site construction and strengthens structural safety for high-rise residential developments.
Skanska has divested the second phase of its H2Offices scheme in Budapest, Hungary, to ERSTE Open-Ended Real Estate Investment Fund for EUR 98 million (SEK 1.1 billion). The 22,000-square-metre building is fully pre-leased to an international firm on a 10-year term. Skanska Commercial Development Europe will record the transaction in the third quarter of 2026, with property handover scheduled for late 2027.
Samsung Electronics and five group affiliates have committed USD 1 billion to Helix Digital Infrastructure, an AI platform created by KKR. Samsung Electronics contributes USD 500 million, alongside funds from Samsung C&T, Samsung SDS, Samsung SDI, Samsung Life Insurance and Samsung Fire & Marine Insurance. Helix builds hyperscale data centres, power generation and fibre networks alongside founding backers KKR, KIA, NVIDIA and Vistra.
