People & Places Signs EGP 1.4 billion Construction Agreement with Redcon Construction for The Med, Ras El Hekma

People & Places has announced the signing of an EGP 1.4 billion construction contract with Redcon Construction, one of Egypt’s leading contracting companies, marking another significant milestone in the ongoing development of The Med in Ras El Hekma.

Under this phase of the agreement, Redcon Construction will undertake the structural concrete works, and external finishing works for three phases; The Mediterranean Village, The Waterfall Village, and The Gray Laguna. Construction is scheduled to commence in June 2026, with a targeted completion period of 18 months; covering the construction of 321 units with a total built-up area exceeding 54,000 square meters, including 127 Villas and 194 chalets across three phases of the project.

Commenting on the partnership, Mohamed El Assal, Co-Founder of People & Places, said: “At People & Places, we view construction progress as more than just a development milestone; it reflects our commitment to creating communities that our customers can genuinely experience and call home. Our continued partnership with Redcon Construction, which has already delivered successful phases of The Med including Waterfall Village 1 and The Mediterranean Villas 1, reflects a shared commitment to the highest standards of quality and execution. Every phase brought to life contributes to shaping a destination rooted in authenticity, human connection, and a lifestyle that resonates with the aspirations of a new generation of homeowners.”

Building on the above, Omar El Gamal, Managing Director and Executive Board Member of Redcon Construction, highlighted the significance of the partnership, stating: “We are proud to partner with People & Places on one of the North Coast’s most promising developments. The Med represents a forward-looking vision for integrated destination development, and we look forward to delivering these phases according to the highest standards of quality, efficiency, safety, and sustainability, ensuring long-term value for residents and the surrounding environment alike.”

The signing was attended by Karim El Assal, Co-Founder of People & Places, and Noha Nael, Chief Business Officer of Redcon, alongside senior executives from both companies.

Since its launch in 2022, The Med has established itself as one of the leading coastal destinations in Ras El Hekma. Spanning 307 acres, the development features an 800-meter beachfront, more than 110,000 square meters of swimmable lagoons, and a fully integrated master plan that combines residential offerings, hospitality components, leisure experiences, and diverse lifestyle concepts. The destination has also welcomed visitors to its beach for three consecutive summer seasons, reflecting the project’s steady progress on the ground. Strategically located in the heart of Ras El Hekma, The Med offers convenient access from Cairo via the Dabaa Road and is situated close to Al Alamein International Airport, placing it at the center of one of Egypt’s fastest-growing coastal destinations.