Egypt: Housing Minister - Construction Works At Nac's CBD About to Be Finalized

Housing Minister Essam el Gazzar said on Sunday 10/1/2021 that 53 floors of the Iconic Tower, Africa's tallest building with a height of about 400 meters, have been finalized and fronts of other towers are currently under construction in the Central Business District (CBD) at the New Administrative Capital.

In statements, Gazzar said investments of the CBD are estimated at $ 3 billion and are being implemented in cooperation between the Ministry of Housing's New Urban Communities Authority and the Chinese contracting giant CSCECO.

The construction of the third residential district, Capital Residence, is also underway, with 90 percent of the district finished, Gazzar noted.

Capital Residence is built on an area of 1,016 acres and includes eight neighborhoods, with a total of 24,130 housing units, the minister said.

Another district named "New Garden City", is 82 percent complete. The district includes 295 residential buildings, 105 villas, 175 townhouses, 11 towers, and 96 mixed housing buildings, he added.

Gazzar confirmed that the Cairo Capital Central Park project will cover an area of one thousand acres, making it one of the largest parks in the world.

The park will be divided into three sectors, each of them will include recreation areas, gardens, and commercial facilities, he said.

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