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Thursday, 16 March 2017

Okay, seriously, what is the status of the contract with CSCEC and the new capital?

Administrative Capital for Urban Development Company head Ayman Ismail offered no clear answer on whether the China State Construction and Engineering Company (CSCEC) has backed out of the New Administrative Capital. Calling on our resident team of 8,000-year-old mystics and mind readers, the most logical interpretation we could offer is this: The company has indeed pulled out of its agreement to work on phase one of the new administrative capital and is renegotiating its role in the project. Ismail reiterated at the Egypt Builders Conference that Egyptian companies will take the lead on the development of the new capital and that 16 developers have presented offers, according to what may be the worst press release ever written.

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