China and Egypt have signed an implementation agreement for urban operations in the Central Business District of Egypt’s New Administrative Capital. Horizon Operations Management will oversee property management and municipal services under a performance-based model. The project, part of the Belt and Road Initiative, includes Africa’s tallest tower at 385.8 meters.
China and Egypt have signed an agreement on urban operations for the Central Business District (CBD) of Egypt’s New Administrative Capital. The deal was signed between Egypt’s New Urban Community Authority and the Chinese-Egyptian joint venture Horizon Operations Management (Egypt) Co., Ltd. The signing ceremony took place on June 1, attended by Egyptian Prime Minister Ahmed Bouleh, Housing Minister Sherbini Sharif, Chinese Vice Minister of Housing and Urban-Rural Development Dong Jianguo, and representatives from CSCEC.
Under the agreement, Horizon Operations Management will be responsible for property management and municipal operations during the early stages of the CBD. According to Egypt’s Minister of Housing, the scope includes maintaining key facilities and providing integrated urban services for residents, tourists, and businesses. This performance-based, quality-focused, and sustainable management model may be extended to other areas of the new capital or to future cities across Egypt.
The CSCEC project in the New Administrative Capital is a core component of Egypt’s national recovery plan and a flagship project under China-Egypt cooperation within the Belt and Road Initiative. The project consists of 10 office buildings, 5 residential buildings, 4 major hotels, and the landmark 385.8-meter Iconic Tower, set to become the tallest building in Africa upon completion.