Construction

China’s CREC lands initial work for Egypt ‘Olympic park’ – report

Projects expected to be completed in 30 months

PHOTO: Egypt plans to build a new administrative capital outside of Cairo (pictured). Credit: Shutterstock

The Egyptian Housing Ministry and the China Railway & Engineering Corporation (CREC) have signed a memorandum of understanding to work on six governmental buildings and a so-called ‘Olympic park’ in the new administrative city planned outside Cairo, according to media reports.

Business publication Amwal Alghad reported that the governmental buildings will be built on a 214,000 sqm site while the ‘Olympic park’ will be constructed on an area of 8.4 square kilometres (2000 feddans).

CREC will work on the initial designs for the project within the next three months, with the projects expected to be completed in 30 months. The MoU was signed by Egyptian Housing Minister Moustafa Madbouli, it was reported.

CREC is a Beijing-based conglomerate with operations in fields including construction, manufacturing, real estate development, mineral products and finance.

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