Wed, 24 Feb 2021 - 12:47 GMT
Egypt's 'Iconic Tower' lying in New Administrative Capital's Business Neighborhood – TV screenshot
CAIRO – 24 February 2021: The government declared Wednesday that 60 floors have been built in the iconic tower that is under construction in the New Administrative Capital's Business Neighborhood.
As such, 11 floors have been built since October 2020 raising the number from 49 to 60. The height of the tower is planned to be 400 meters consisting of 79 floors. That means 19 floors are remaining to accomplish the tallest tower in Africa.
The tower is one of 20 prospective towers in the area, and those are being accomplished at a cost of $3 billion. The construction of eight of those – excluding the Iconic Tower - has been completed.
The project is joint venture between the New Urban Communities Authority and China's CSCEC.
Deputy Housing Minister for National Projects Khaled Abbas stated in October that the finishing and the exterior of the eight towers and the Iconic Tower will be completed by June 30, 2021.
The business neighborhood will not exclusively consist of office buildings but will also house five 47-storey residential buildings. The height of each is 180 meters, and the units will be offered for sale in the first quarter of 2021.
The neighborhood will also have two hotels. One is a 5-star hotel, and the other is a 7-star hotel. The latter will be managed by a brand that will operate for the first time in Egypt.
The Central Park in the New Administrative Capital is finished by 33 percent. Once it is completed, it will be the largest in the Middle East and the second largest in Africa for it stretches over 10 kilometers spanning over 1,000 feddans.
The progress rate of the third residential neighborhood dubbed "Capital Residence" is 91 percent. The surface area of the neighborhood is 1,016 feddans, and consists of eight districts. The finishing and electromechanical works in the first and eight districts have been completed.
The neighborhood encompasses a total of 24,130 residential units. The breakdown is 697 buildings having 19,944 apartments; 328 villas; 157 townhouses having 624 units; and, 64 mixed-use buildings housing 2,560 residential units as well as 151,360 square meters of commercial and administrative units. Additional nine mixed-use buildings are being built to have 674 residential units.