Minister of Housing, Utilities, and Urban Communities, Assem El Gazzar witnesses the ceremonial completion of the concrete works of the 400-m iconic tower in the Central Business District (CBD), the New Administrative Capital (NAC), Invest-Gate reports.

Accompanying the minister, the ministry’s officials, officials of the New Urban Communities Authority (NUCA), the project consultant, and the Chinese company’s (CSCEC) officials.

During his speech, El-Gazzar states, “Today, we celebrate and document different stages of Egypt’s growth and development. We have many success partners throughout this journey,” stressing that under the leadership of President Abdel Fattah El Sisi, several development projects are ongoing across the state.

The minister adds, “We can see today the results of the cooperation between Egypt and China. The CBD project in NAC will be a new mark added to the Egyptian constructors’ registry, and its cooperation with other countries.”

“We are currently witnessing growth rates and acceleration in the construction pace in Egypt with various projects, either implemented by the Egyptian contracting companies or in cooperation with partner countries.”

Furthermore, El Gazzar indicates that by the beginning of next week a new project will be launched to implement a number of towers in the New Alamein City, in cooperation with the CSCEC.

The minister highlights that the CBD has 20 towers, including the 400-m iconic tower. One of the CBD towers will be delivered at the beginning of 2022 and the other towers will be delivered during the same year. These towers are implemented in cooperation with the CSCEC, with investments estimated at USD 3 bn.