|24 February, 2020

Consortium bids for management of CBD in Egypt’s new capital

The CBD project is being established with total investments of $3bln

Construction site of Misr Italia's IL Bosco New Capital project located within Egypt's New Administrative Capital master plan.

Construction site of Misr Italia's IL Bosco New Capital project located within Egypt's New Administrative Capital master plan.

Eman Hamed/Zawya

Cairo – Mubasher: An international consortium has submitted an offer to the Egyptian Ministry of Housing to manage and promote the central business district (CBD) project at the New Administrative Capital, according to a statement on Monday

The CBD project, the first of its kind in Egypt, represents a landmark for the country’s construction industry and needs to be marketed worldwide, the housing minister Assem El-Gazzar said during his meeting with international real estate consulting and marketing companies in the presence of the chairman of City Edge Developments Ashraf Salman.

With total investments of $3 billion, the CBD project features 20 towers, including the 385-metre-high iconic tower, set to be the tallest tower in Africa, the deputy minister of housing Khaled Abbas revealed.

The new project is being developed in collaboration between the housing ministry’s New Urban Communities Authority (NUCA) and China State Construction Engineering Corporation (CSCEC), Abbas pointed out.

Located east of Cairo at a total area of over 170,000 feddans, the new capital is expected to host 6.5 million people upon completion.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction