Cairo – Mubasher: Egypt’s Minister of Housing, Assem El-Gazzar, said that 49 floors of the iconic tower in the Central Business District (CBD) in the New Administrative Capital have been constructed so far.

The iconic tower, set to be the tallest in Africa at about 400 metres, currently stands at 240 metres high, El-Gazzar said in a statement on Thursday.

The CBD project, which includes 20 towers, is being constructed in collaboration between the Ministry of Housing’s New Urban Communities Authority (NUCA) and China State Construction Engineering Corporation (CSCEC) with estimated investments of $3 billion.

El-Gazzar further revealed that Capital Residence - R3 has been 90% complete, while construction works in New Garden City - R5 have been 82% complete.