Mostafa Madbouly, Egypt’s Prime Minister, initiated an inspection tour on October 8, 2023, focusing on the first phase of the New Administrative Capital (NAC) projects, Invest-Gate reports.

Madbouly commenced the tour by inspecting the Central Business District (CBD) to assess the progress of implementation. Accompanying him were Assem El-Gazzar, the Minister of Housing, Utilities, and Urban Communities, officials from the ministry, the New Urban Communities Authority, the Head of the New Administrative Capital Authority, and representatives from the implementing company.

At the beginning of the tour, the Prime Minister emphasized the significance of the CBD as a vital financial and business hub within the NAC. He expressed his pride in the project, which is being developed according to the latest urban systems to become an iconic feature.

Madbouly also highlighted the plan to manage and operate the district, aiming to attract major international companies, entities, and renowned international brands to invest in the project.

The district comprises 20 towers with diverse functions, including the Iconic Tower, which is set to become the tallest tower in Africa, reaching a height of approximately 400 meters. The construction of the tower is a collaboration between the Ministry of Housing, represented by the New Urban Communities Authority, and the Chinese company CSCEC, one of the world’s largest contracting companies.

El-Gazzar also mentioned that the CBD project is located 50 km east of Cairo, bordered by Mohammed bin Zayed Road to the north and the Green River to the south.