French energy technology company Schneider Electric signed a memorandum of understanding (MoU) with Egyptian real estate developer LMD to deploy sustainable solutions across properties in Egypt and the UAE, read a press release by Schneider.
The deal was inked on the sidelines of the UN Climate Change Conference (COP28) in Dubai to integrate smart building management technologies in LMD’s One Ninety and Stei8ht complexes in Egypt as well as projects in the UAE.
Schneider will provide its AVEVA software and Unified Operations Centre platform along with a supply of components from medium voltage panels to escalators.
The partnership aims to optimize energy and water usage, reduce emissions and apply smart city concepts, said executives from Schneider and LMD.
“We have confidence that our integrated Homes of the Future solutions will help LMD apply the smart cities and smart buildings concept in One Ninety and Sei8ht projects. Our mutual aim is to enhance sustainability and act for a climate-positive world using technology,” said Sebastien Riez, cluster president of Schneider Electric Northeast Africa and Levant.
“Our partnership with Schneider Electric, a renowned global leader in energy management and automation, brings us immense satisfaction. We trust Schneider Electric's advanced sustainable solutions will aid us in fulfilling our goal of enhancing safety, comfort, and sustainability for our customers,” CEO of LMD Amr Sultan stated.
One Ninety is an EGP 42 billion mixed-use district in Cairo spread over 344,315 square metres. Stei8ht features 2,000 villas on 1.5 million square metres in New Cairo.
LMD has its roots in Dubai and works with Schneider to future-proof projects and support sustainable development goals.
Egypt has been building a series of new cities in the last decades, intensifying is efforts in this domain recently. Total investments in Egypt’s new cities have reached EGP 705 billion ($22.82 billion), according to Walid Abbas, deputy chairman of the New Urban Communities Authority (NUCA).
Schneider Electric has invested a total of €300 million in Egypt over the past 35 years. In addition to Badr factory, the company owns several assets in the country, including a Distribution Centre in 10 Ramadan City and the Engineering Excellence Centre.