Egypt, int'l coalition discuss marketing plan for new capital's CBD

Egyptian Housing Minister Assem al-Gazzar and an international coalition of real estate companies discussed on Monday the marketing and management plan for the Central Business District (CBD) in the new administrative capital.

In a statement, al-Gazzar said the CBD project, which is being built by China State Construction Engineering Corporation (CSCEC), will improve the quality of life for local residents.

"It is a milestone in the urban renaissance witnessed by Egypt in the current period," he said.

During the meeting, the international coalition gave an integrated presentation on how to market and manage the project, presenting their experience in marketing and managing various projects worldwide.

Meanwhile, Deputy Minister of Housing for National Projects Khaled Abbas said that the CBD includes 20 skyscrapers, including the would-be 385-meter high 80-floor Iconic Tower that is expected to be the tallest in Egypt and Africa upon completion.

"Investments in this project are estimated at about 3 billion U.S. dollars," Abbas said.

The CSCEC started building 20 skyscrapers in the planned new capital's CBD in mid-2018. By 2022, the whole project will be delivered to Egypt with a completed construction area of about 1.9 million square meters.

(ASIA PACIFIC DAILY)