Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has indicated that 42 floors of the 80-story Iconic Tower in the New Administrative Capital (NAC) were constructed so far, which is being carried out with investments worth USD 3 bn (EGP 47.6 bn), Invest-Gate reports.

Coming in cooperation with the China State Construction Engineering Corporation (CSCEC), the 400-meter-long tower will be the tallest in Africa, extending across an area of 240,000 square meters at the Central Business District (CBD), which will be home to 20 mixed-use towers, El Gazzar noted in a ministerial statement on August 24.

As for the new capital’s R3 district, named “Capital Residence,” the minister uncovered that it has hit an implementation rate of 87%, introducing eight new neighborhoods that will feature a total of 24,130 housing units, including 19,944 apartments, 328 villas, and 157 townhouses, he explained.

The minister further stated that 73 mixed-use developments are also under construction in Capital Residence, encompassing a total of 3,234 residential units, along with 151,360 square meters of commercial and administrative spaces.

According to the statement, work on NAC’s R5 district, or “New Garden City,” is almost 78% complete, which is being developed over 885 acres to comprise 295 residential buildings, 105 villas, as well as, 175 townhouses and twin homes. This comes in addition to 96 and 11 mixed-housing buildings and towers, respectively.

In addition, 9,024 housing units (376 buildings) are under development in the eastern extension of Badr City to public employees relocating to the new capital next year, with works 78% done, El Gazzar concluded.