Egyptian Housing Minister Assem el Gazzar said on Sunday that a plan to manage and operate the central business area in the New Capital is meant to attract investments from giant international companies and entities.
Speaking in a meeting with representatives of a major world company concerned with smart cities, Gazzar followed up steps to implement the plan in line with a protocol signed by both sides.
The minister reviewed the integrated plan to manage and operate the different departments of the central business area.
The central business area should be managed and operated in accordance with international standards, Gazzar stressed.
He also underscored the need to market the project at the world level because this is the first such city in Egypt.
It is part of efforts to achieve urban renaissance in Egypt; one that would help improve living conditions of citizens, Gazzar noted.
The central business area includes 20 towers, atop of which the 400-meter tall iconic tower – the highest in Africa, the minister explained.
This project is estimated to cost some 3 billion dollars and is being co-implemented by the Housing Ministry and a major world construction company.
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