Egypt’s housing minister Asem al-Gazzar and several Chinese Banks signed an agreement worth US$834 million in Beijing on Monday to establish a central business park in the New Administrative Capital. Gazzar stated that the park would include seven skyscrapers, including two administrative towers and five residential towers at a height of 206 meters on a building area of 600,000 square meters. Construction of the Administrative Capital is on top of the priorities of the government’s sustainable development plan 2030. Egypt’s government launched the project of the Administrative Capital east of Cairo at the cost of $45 billion, in March 2015. The first stage will cost LE 30 billion, excluding infrastructure.

Source: Egypt Independent April 29, 2019 09:56 UTC