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.
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