Chinese company offers to operate, manage business district at Egypt's NAC

The Central Business District (CBD) will be home to 20 towers

  
Image used for illustrative purpose. Construction machines are seen at the site of the futuristic, iconic tower skyscraper, in the business district, which is being built by China State Construction Engineering Corp (CSCEC) in the New Administrative Capital (NAC) east of Cairo, Egypt March 8, 2021.

Image used for illustrative purpose. Construction machines are seen at the site of the futuristic, iconic tower skyscraper, in the business district, which is being built by China State Construction Engineering Corp (CSCEC) in the New Administrative Capital (NAC) east of Cairo, Egypt March 8, 2021.

REUTERS/Mohamed Abd El Ghany

ArabFinance: The Egyptian government received an offer from a Chinese company to operate and manage the Central Business District (CBD) at the New Administrative Capital, according to a statement by the Cabinet.

The offer includes a proposed program for operating the district.

The Chinese company's representatives said the CBD will attract major international companies given the availability of the necessary facilities that will help provide stability for these entities.

The CBD will be home to 20 towers, and it is being built in cooperation between the Ministry of Housing, represented by the New Urban Communities Authority, and the China State Construction Engineering Corporation (CSCEC), one of the largest construction companies in the world.

The district includes the near-complete 78-floor Iconic Tower, almost 400-metre-high, which is set to be the tallest building in Africa.

Thousands of public sector employees are scheduled to be relocated to the new capital in the near future.

Government offices were due to be relocated to the new capital by mid-2020, but the step was delayed due to the coronavirus pandemic.

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