Egypt’s Prime Minister Moustafa Madbouli Sunday said that tens of thousands of job opportunities will be created for Egyptian youth after operating the Central Business District of the New Administrative Capital (NAC), and subsequently creating added value to the Egyptian economy.
The premier made the remarks on the sidelines of the delivery of the first three towers in the Central Business District of the NAC, in the presence of Minister of Housing, Utilities and Urban Communities Assem el Gazzar and a number of senior officials.
The three towers are the first to be finalized in the Central Business District where 20 towers are being constructed by the China State Construction Engineering Corporation (CSCEC), including the 400-meter high “Iconic Tower”.
President Abdel Fattah El Sisi’s initiative of “Housing for All Egyptians” to build one million housing units for the youth and limited-income brackets costs the state more than 400 billion pounds, Madbouli said, adding that 300,000 housing units were constructed as an alternative housing for slum dwellers.
Madbouli said that the State has allocated housing units for limited-income brackets at a total cost more than EGP 500 trillion.
He further referred to the challenges which the State confronted to end the problem of random housing and slums.
The State is keen on cooperation with the best local and international expertise in implementing housing projects in the New Administrative Capital (NAC), he said.
The State is capable of resolving all the housing-related problems, through working on developing the unsafe slum areas and establishing new housing projects, which ensure a decent life for all Egyptians, he further said.
The premier, meanwhile, extended thanks to the Chinese ”CSCEC” company for its efforts in building towers in the NAC.
Talking about the implementation rate of the projects in the old capital, Madbouli said that the volume of projects being implemented is enormous, including the development and establishment of entertainment and service areas and the establishment of projects such as the Fustat Hills.
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