Egypt's new capital CBD a prized project for China

China's President Xi Jinping and his Egyptian counterpart President Abdel-Fattah al-Sisi witnessed the signing of a framework agreement for the construction of Egypt's new administrative capital on January 21, 2016.

The agreement, which was signed between the China State Construction Engineering Corporation and Egypt's Housing Ministry, was followed by a year of negotiations over a contract to build a new Central Business District (CBD) for the Egyptian capital.

The agreement for the CBD project is the most high-value contract signed by a Chinese enterprise in Egypt. At the heart of the CBD project is the Signature Tower, a multifunction high-rise that will become the tallest building in Africa.