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

Egypt’s Assiut University Opens Door to Sudanese Students Amid Conflict

Egyptian StreetsJune 24, 2019

Palestine Calls New US Economic Plan “Second Balfour Declaration”

Egyptian StreetsJune 23, 2019

Egypt’s Parliament to Establish a New Law to Fight Fake Products and Brands

Egyptian StreetsJune 23, 2019

Iran Will ‘Confront’ Any American Aggression Amid Growing Tensions

Egyptian StreetsJune 22, 2019

Mahmoud Trezeguet Scores First Goal For Egypt at AFCON

Egyptian StreetsJune 21, 2019

Four Teenagers Spared Detention After Attack On Egyptian Student in 2018

Egyptian StreetsJune 21, 2019

Long-Awaited Naguib Mahfouz Museum to Open End of June

Egyptian StreetsJune 19, 2019

Who Was Mohamed Morsi? A Timeline of His Rise and Fall

Egyptian StreetsJune 18, 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.