ECG to complete Egypt c.bank’s new capital HQ in 2020

Egypt’s Engineering Consultants Group (ECG) said on Thursday it will complete supervising the designs and construction of the Central Bank of Egypt’s (CBE) headquarters in the new capital within 2020.

The headquarters is located in the new capital’s Central Business District (CBD) on space of 130,000 feddans (equivalent to 526.1 square metres).

Recently, ECG has been mandated to prepare the engineering designs of two flagships – named Taj City and Sarai – in New Cairo. They are owned by the state-owned Madinet Nasr for Housing and Development.

In March 2018, Egyptian Prime Minister Moustafa Madbouly laid the foundation stone of a massive Central Business District (CBD) in the new capital’s first phase.

The new district – which is also being implemented by China State Construction Engineering Corporation (CSCEC) – will include 20 giant buildings and will be completed at the end of 2020, with an investment cost worth $3.2 billion.

Located 45km (28 miles) east of Cairo, the anticipated new capital is part of the Egyptian government’s plan to expand urban areas to deal with the state’s rapid population growth and improve the nation’s infrastructure.

The new city is set to be a 270-square-mile hub with 21 residential districts to accommodate five million people. It will feature 1,250 mosques and churches as well as 5,000-seat conference centre, nearly 2,000 schools and colleges, over 600 medical facilities, and a park that is projected to be the world’s largest.