Egypt's new administrative capital is set to become a hub for business and commerce with the construction of Nile Business City. The project is a joint venture between the Egyptian government and the Chinese construction company, CSCEC.
The Nile Business City project covers an area of 5.6 million square meters and is located in the heart of the new administrative capital. The project is expected to be completed in three phases, with the first phase set to be completed by 2022.
The project will feature a range of commercial and residential buildings, including office towers, hotels, shopping malls, and residential apartments. The development will also include a convention center, a cultural center, and a park.
Nile Business City is expected to attract local and international businesses, as well as investors, due to its strategic location and modern infrastructure. The project is also expected to create job opportunities and boost the local economy.
The project is part of Egypt's plan to develop the new administrative capital into a modern city that can accommodate the growing population and provide a better quality of life for its residents. The New Capital is expected to relieve the pressure on Cairo, which is currently overcrowded and facing numerous challenges, including traffic congestion and pollution.
The new administrative capital is being built on a site of 170,000 acres, located 45 kilometers east of Cairo. The city is expected to house government buildings, residential areas, and commercial districts. The project is expected to cost $45 billion and is being funded by the Egyptian government and private investors.
The construction of Nile Business City is a significant step towards the development of the new administrative capital and the transformation of Egypt's economy. The project is expected to attract investment and create job opportunities, which will help to boost the country's economy and improve the standard of living for its citizens.
In conclusion, Nile Business City is a major development project that will contribute to the growth of Egypt's economy and the development of the new administrative capital. The project is expected to attract local and international businesses, investors, and tourists, and create job opportunities for the local population. With its modern infrastructure and strategic location, Nile Business City is set to become a hub for business and commerce in Egypt's capital.