First three buildings completed for financial district of Egypt’s new capital

Egypt’s new central bank headquarters. Some 50,000 civil servants are now commuting to the new capital a day (David Rogers)
China State Construction Engineering Company (CSCEC) yesterday handed over the first three buildings of the $3bn central business district of Egypt’s New Administrative Capital, local news sites reported

Prime Minister Moustafa Madbouly took delivery of them on behalf of the ministry of housing.

They are the first of some 20 buildings to be handed over including the 385m-high Iconic Tower, soon to be Africa’s tallest building.

Madbouly said 24,000 residential units had already been sold in the capital, including social housing for former slum dwellers and low-income citizens.

He added that as many as 50,000 government employees commuted to the new ministry buildings every day.

Work began on the new capital in May 2018. It is located some 50km east of Cairo and covers an area of about 60ha. When complete, the business district will have 10 office towers and five residential buildings with 1,700 apartments.

The district will also host Crescent Towers: four connected buildings with a mix of uses, including a hotel, public services, entertainment and retail.

Housing minister Essam el Gazzar and a number of senior officials were also present at the ceremony.

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