China State Construction Engineering Corp (CSCEC) has been awarded a contract worth $3bn by the Egyptian government to build a Central Business District (CBD) in Egypt’s new administrative capital.
The CBD will be constructed over an area of approximately 505,000 sq m in the core area of the Phase I project of the New Administrative Capital.
The project will feature 12 business complexes, five high-rise residential buildings, two hotels and a 345m high skyscraper.
With the total floor area of about 1.7 million square metres, the CBD will have 20 single high-rise buildings and auxiliary facilities.
“The New Administrative Capital Project is the most important key project under construction for the Egyptian Government.
“Once completed, it will greatly relieve the pressure of population and transport in Cairo, serve as a new political and financial center in Egypt, create favorable business and investment environment, facilitate development of economic belts along the Suez Canal and around the Red Sea, and promote the implementation of Egyptian strategy of national rejuvenation,” CSCEC said in a statement.