SODIC’s EDNC receives IFC’s Advanced EDGE green building certification

14 / 12 / 2023

• news
• The New Republic

SODIC’s flagship commercial project Eastown District New Cairo (EDNC) received IFC’s EDGE Advanced Green Building Certification for its focus on sustainability, promoting a healthier and more productive environment with a reduced carbon footprint.

The certification marks EDNC as the first certified business park in Egypt.

The EDGE certification is a globally recognized standard for measuring resource efficiency and quantifying energy and water savings while aligning with opportunities for financial benefits like green bonds, loans, and cashback grants. EDNC has qualified for a grant element from IFC under CIB’s Green Bond program for meeting the EDGE Advanced Certification standards, which promote environmental sustainability as well as energy and resource efficiency.

SODIC’s EDNC has been designed and built in line with sustainable guidelines that have allowed it to achieve an average of 40% reduction in energy consumption, a 33% reduction in water usage, and a 22% reduction in embodied energy in materials, allowing it to qualify for the EDGE Advanced certification.

Commenting on the signing, Ayman Amer, SODIC’s General Manager, stated: “We are thrilled to receive the EDGE Advanced Green Certification for EDNC. This certification comes in line with our sustainability-led corporate strategy, which guides our ESG commitments and steps towards carbon reduction and is a true testament to SODIC’s leadership within the real estate sector”.”.

For his part, Amr El-Ganainy, CIB’s Deputy CEO and Managing Director, said: “SODIC has demonstrated its position as one of the sustainable market leaders in Egypt’s Real Estate sector, by qualifying for accreditation as an EDGE-certified entity and aligning with best international practices. CIB’s Green Bond and Sustaining Sectors programs have been dually built in collaboration with sustainability-oriented clients such as SODIC and multilateral development partners such as the IFC. We remain committed to collaborating with our clients, to instigate their low carbon transition and sustain their growth.”

“We’re delighted to see more businesses in Egypt seek EDGE certification, as these green buildings are more sustainable and contribute to reduced operating costs,” said Cheick-Oumar Sylla, IFC Director for North Africa and Horn of Africa. “IFC is committed to helping businesses achieve their sustainability goals – and we’re excited to see the positive impact EDGE-certified buildings are having on the country.”