Minister of Housing, Utilities, and Urban Communities Assem El Gazzar attended the contract signing for the Al Alamein Crystal Lagoons project in the new city’s Downtown district, Invest-Gate reports.

The deal between the New Urban Communities Authority (NUCA) and Chinese firm China State Construction Engineering Corp. Ltd. (CSCEC) was signed by NUCA’s Deputy Chairman for Real Estate and Commercial Affairs Amin Ghoneim and CSCEC Egypt’s General Manager Wang Zhi.

El Gazzar said the project, located between Downtown towers under construction in New Alamein City, includes seven islands and a walking path mimicking global standards. Its development will increase surrounding land values and attract more investment and jobs, he added.

The minister noted that CSCEC is building Downtown towers, similar to structures in the New Administrative Capital’s Central Business District, through self-financing with NUCA. The five residential towers range in height from 200 to 250 meters and amount of space from 320,000 to 465,000 sqm.

On the sidelines, El Gazzar discussed CBD and Downtown project timelines with CSCEC, stressing their importance as new models for Egypt’s urban renaissance under President Abdel Fattah El-Sisi. CSCEC affirmed its commitment to the highest quality and fastest execution.