News

Egypt’s Tallest Building To Be Revealed

Egypt’s Tallest Building To Be Revealed

By Yasmine Samra, The Cairo Post

Egypt will unveil a project to build a 200-meter tower, which would be the nation’s highest, at the upcoming economic summit scheduled in March, Egypt’s Minister of Housing Moustafa Madbouly stated Wednesday.

The Zayed Crystal Spark project would be implement on a 798,000-square meter bloc in West Cairo’s Sheikh Zayed district and would be built through partnership between real estate developers and the New Urban Communities Authority (NUCA), said the minister without revealing the investment cost of the project.

“It is an administrative, commercial and entertainment project as it includes buildings for various purposes, in addition to the unique 200 meter-tower,” Madboly said.

Egypt hopes the long-awaited economic conference would lure fresh investments to boost its limping economy battered by political turmoil since the January 25 Revolution.

Madbouly announced earlier this month that the ministry has invited around 150 real estate developers in the private sector to attend the March conference.

The minister also promised in his speech at the Cityscape Egypt real estate event held in Cairo Feb.10 to offer new land blocs for real estate developers before the end of February, in an attempt to solve land shortages which can hinder investment projects in Egypt.

The real estate sector is a main contributor to Egypt’s economic growth, affecting more than 90 industries, and accounting for at least 8 percent of the country’s labor force. The sector represented 4.6 percent, Egypt’s GDP during the 2012/2013 fiscal year, roughly 80 billion EGP (U.S. $11.5 billion,) according to data from the Ministry of Housing.

Egypt Executes Man For Throwing Children Off A Rooftop
Porn Filmed At Egypt's Pyramids Sparks Outrage

Subscribe to our newsletter


News
@TheCairoPost

The Cairo Post provides breaking news and quality, in-depth reporting on Egypt that is easily accessible and understandable to a global audience. http://thecairopost.com/

More in News

130+ Killed in Eight Explosions Targeting Churches, Hotels in Sri Lanka

Egyptian StreetsApril 21, 2019

A Quick and Simple Overview of Egypt’s Constitutional Amendments

Egyptian StreetsApril 20, 2019

Mohamed Salah: ‘We Need to Change the Way We Treat Women in Our Culture’

Egyptian StreetsApril 18, 2019

National Referendum on Constitutional Amendments to Take Place from Saturday to Monday

Egyptian StreetsApril 18, 2019

Parliament Approves Constitutional Amendments Extending Presidential Term

Egyptian StreetsApril 16, 2019

Independent Egyptian News Site ‘Mada Masr’ Named 2019 Free Media Pioneer

Egyptian StreetsApril 16, 2019

Egypt Expresses Sorrow and Solidarity Over Notre Dame Blaze

Egyptian StreetsApril 16, 2019

Egyptian Women Awarded Pulitzer Prize for the First Time

Aya NaderApril 16, 2019
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.