In the real estate sector, Egypt is currently experiencing a major boom. Housing Minister Essam al-Gazzar said last Sunday that ambitious new projects are underway in Egypt’s new capital, and that the fruits of the achievements of recent years will be reaped in the next stages.
New Egypt offers opportunities to all citizens, regardless of their social level. It is against this backdrop that the first phase of the Central Business District towers was delivered. This project, carried out in collaboration with China State Construction Engineering Company (CSCEC) on behalf of the Egyptian Ministry of Housing, includes the construction of 20 high-rise buildings.
During an official ceremony at the New Administrative Capital, Prime Minister Mostafa Madbouly and other officials testified to this major breakthrough. The district is also home to the Iconic Tower, a skyscraper of impressive dimensions, reaching almost 400 meters in height.
The Minister of Housing expressed his gratitude to the Chinese company for its remarkable work in carrying out this first phase. He also pointed out that CSCEC will be tasked with another project in the Alamein New Town business district.
This rapid expansion and large-scale projects demonstrate the growing confidence placed in Egypt as a major real estate investment destination. New Egypt is thus positioned as a major opportunity for domestic and foreign investors, offering numerous possibilities in different sectors, including real estate, infrastructure and urban development.
Thanks to these new developments, the Egyptian economy is expected to benefit from significant growth, with positive impacts on employment and the living conditions of citizens. New Egypt is thus positioning itself as an attractive destination for real estate investments, offering promising long-term development prospects.
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