The New Urban Communities Authority (NUCA) signed on July 5, 2023, a memorandum of understanding (MoU) with China State Construction Engineering Company (CSCEC) and Income Company, Invest-Gate reports.

The MoU aims to boost cooperation and exchange experiences, in addition to the plan for managing and operating the Central Business District in the New Administrative Capital (NAC).

The protocol was signed during a meeting between Abdulmutallab Mamdouh, the Vice President of NUCA, Zhao Bo, the General Director of the External Department at CSCEC, and other officials.

Ibrahim stated that there is fruitful and constructive cooperation between the Ministry of Housing and CSCEC in the implementation of many major projects, on top of The iconic tower.

Planned to be the highest tower in Africa, the Iconic Tower is about 400 meters high and is implemented with investments of $3 billion.