Egypt’s Minister of Housing, Assem El-Gazzar, stated that 49 floorings of the iconic tower within the Central Business District (CBD) at the New Administrative Capital have been constructed to date.

The iconic tower, set to be the tallest in Africa at about 400 metres, at the moment stands at 240 metres, El-Gazzar stated in an announcement on Thursday.

The CBD venture, which incorporates 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.