The China State Construction Engineering Corporation (CSCEC) signed on Wednesday the final agreement to build a Central Business District (CBD) in Egypt’s new administrative capital. The CBD will be built on an area of approximately half a square kilometer. It will include 12 business complexes, five residential buildings, two hotels and a 345-meter high skyscraper, which will be the tallest building in Africa, according to Chinese newspaper Xinhua. The agreement was signed by CSCEC vice-president Zheng Xuexuan and Egypt’s Minister of Housing Mostafa Madbouly during a ceremony for the official launch of the new Egyptian capital. The Chinese-sponsored business district is slated to be completed within the next three and a half years. Chinese ambassador to Egypt Song Aiguo, who attended the signing ceremony together with Egyptian President Abdel Fattah al-Sisi, stressed the importance of the investment agreement for Chinese-Egyptian relations. He said that the deal reflects the depth of bilateral cooperation between Egypt and China and underscored its symbolic significance as it will be a sign of the long-lasting friendship between the countries for future generations. Aiguo also underscored that the deal, which was initially signed during Chinese President Xi…
China to Build Business District in Egypt’s New Capital, Amid Skepticism Against the Mega-Project
October 12, 2017
