Egypt and China have formalized an agreement to jointly manage and operate the Central Business District (CBD) in Egypt’s New Administrative Capital. The agreement was signed on June 1, 2025, marking a pivotal step in the ongoing collaboration between the two nations under the Belt and Road Initiative.
The comprehensive operation and maintenance agreement was signed between Egypt’s New Urban Communities Authority and Horizon Operations Management (Egypt) Co., Ltd., a Chinese-Egyptian joint venture. The joint venture will oversee property and municipal management within the CBD, which is located approximately 50 kilometers east of Cairo. This district features 20 commercial and residential skyscrapers, including the 385.8-meter-high Iconic Tower, now the tallest building in Africa.
The signing ceremony was attended by Egyptian Prime Minister Mostafa Madbouly, Egyptian Minister of Housing Sherif El-Sherbiny, China’s Vice Minister of Housing and Urban-Rural Development Dong Jianguo, and representatives from China State Construction Engineering Corporation, the main contractor for the CBD project.
Minister El-Sherbiny emphasized that the agreement signifies a shift in Egypt’s approach to public facility management, moving from traditional models to performance-based governance focused on quality and sustainability.
The CBD project is a cornerstone of the China-Egypt collaboration within the Belt and Road Initiative, reflecting China’s broader strategy to expand its influence in Africa through infrastructure development and media partnerships. This latest agreement underscores the deepening ties between China and Egypt and also exemplifies China’s growing footprint in Africa’s urban development landscape.
