- A Chinese company has submitted a proposal to the Egyptian government to operate and manage the Central Business District (CBD) at the New Administrative Capital.
- Egypt was exploring options on the operation and management plan for the CBD to in line with the nature of the New Administrative Capital project.
A Chinese company has submitted a proposal to the Egyptian government to operate and manage the Central Business District (CBD) at the New Administrative Capital.
This was revealed by the Egyptian Prime Minister Mostafa Madbouly to the cabinet yesterday ( 20th sep).The Chinese proposal also included a programme for operating the district, according to a statement released by the cabinet. The Chinese company said that the CBD will be able to attract major international companies given the availability of the necessary facilities.
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Madbouly stated that Egypt was exploring options on the operation and management plan for the CBD in line with the nature of the New Administrative Capital project. The project estimated at $3 billion is claimed to be as per the latest global system. The New Administrative Capital includes a megacity of 700-square-kilometre, located 60km from Cairo. The project was launched in 2015 and is set to house 6.5 million people and public sector offices.
The CBD, has 20 towers, being built jointly by the Ministry of Housing, represented by the New Urban Communities Authority, and the China State Construction Engineering Corporation (CSCEC), one of the global leaders in construction.
The district has a 78-floor Iconic Tower, almost 400-meter-high, which is set to be the tallest building in Africa. Egypt announced the completion of 60 floors in February 2021.
