{"id":631437,"date":"2018-03-19T03:57:20","date_gmt":"2018-03-19T03:57:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/"},"modified":"2018-03-19T03:57:20","modified_gmt":"2018-03-19T03:57:20","slug":"pm-lays-foundation-of-new-capitals-central-business-district","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/","title":{"rendered":"PM lays foundation of new capital\u2019s Central Business District"},"content":{"rendered":"

<\/a> USD 2.55 bn in financing from China for new capital\u2019s skyscraper district as PM breaks ground yesterday: <\/strong>Prime Minister Sherif Ismail broke ground yesterday on the new capital\u2019s 1.71 mn sqm central business district, according to a Cabinet statement<\/a>. The district will be developed by the China State Construction Engineering Company (CSEC), which will spend some USD 3 bn<\/a> building a \u201cskyscraper-studded portion of Egypt\u2019s new capital.\u201d CSEC had signed the contracts for the area\u2019s development last October<\/a> after a troubled and prolonged negotiation period.<\/p>\n

Chinese banks are expected to finance 85% of CSEC\u2019s work, while Egypt\u2019s Housing Ministry will provide the remaining 15%<\/strong>, CSEC Egypt\u2019s deputy general manager Zhao Qiang tells Bloomberg<\/a>. Egypt will have \u201ca grace period of 36 months to 42 months \u2014 until construction is completed \u2014 before repayment begins on the 10-year loan,\u201d according to Assistant Housing Minister Khaled Abbas.<\/p>\n","protected":false},"excerpt":{"rendered":"

USD 2.55 bn in financing from China for new capital\u2019s skyscraper district as PM breaks ground yesterday: Prime Minister Sherif Ismail broke ground yesterday on the new capital\u2019s 1.71 mn sqm central business district, according to a Cabinet statement. The district will be developed by the China State Construction Engineering Company (CSEC), which will spend […]<\/p>\n","protected":false},"author":1,"featured_media":631438,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-631437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"c8e20f67-b8da-4583-bd15-14399ca42f57","order":"0","is_powered_by":true,"section_story_id":"ed98c6cd-ebc5-44f5-bf9d-f6963573244c","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/3\/501.jpg","photo_position":"above","related_issue":[631429],"teaser":"","voice_url":""},"yoast_head":"\nPM lays foundation of new capital\u2019s Central Business District - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM lays foundation of new capital\u2019s Central Business District\" \/>\n<meta property=\"og:description\" content=\"USD 2.55 bn in financing from China for new capital\u2019s skyscraper district as PM breaks ground yesterday: Prime Minister Sherif Ismail broke ground yesterday on the new capital\u2019s 1.71 mn sqm central business district, according to a Cabinet statement. The district will be developed by the China State Construction Engineering Company (CSEC), which will spend […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-19T03:57:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2018\/3\/501.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"PM lays foundation of new capital\u2019s Central Business District\",\"datePublished\":\"2018-03-19T03:57:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/\"},\"wordCount\":153,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/3\/501.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/pm-lays-foundation-of-new-capitals-central-business-district\/\",\"name\":\"PM lays foundation of new capital\u2019s Central Business District - 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