Three tower blocks have been completed in the central business district of the New Administrative Capital (NAC).
This statement by Minister of Housing, Utilities and Urban Communities Assem el-Gazzar came during his review on Tuesday of the financial position and status of the NAC’s central business district during his meeting in Beijing, China with representatives of the Insurance Corporation Sinosure, and the Industrial and Commercial Bank of China (ICBC).
Prime Minister Moustafa Madbouli attended the meeting.
Another central business district project is currently underway in co-operation between the New Urban Communities Authority (NUCA) and the China State Construction Engineering Corporation (CSCEC) in the downtown area of New Alamein City. This project is fully funding by the NUCA.
The minister reviewed the latest management, operating and marketing systems for central business districts.
The NUCA has fulfilled its financial obligations with regards to the central business districts in the NAC and New Alamein City, the minister said.
Among other major projects implemented by NUCA are 24 new cities and thousands of housing units nationwide.
The minister described co-operation between China and Egypt as “excellent”, highlighting the ongoing collaboration between the Ministry of Housing and CSCEC.
As for the interest in central business districts, el-Gazzar said: “We shall create incentives to attract investment to these areas.”
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