CAIRO - Egypt's New Urban Communities Authority and a Chinese-Egyptian joint venture have signed a comprehensive operation and maintenance agreement for the Central Business District (CBD) in Egypt's New Administrative Capital.

According to the agreement, Horizon Operations Management (Egypt) Co Ltd will be responsible for the operation of the CBD project, initially focusing on property and municipal management.

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According to a statement by the Egyptian cabinet, Egyptian Minister of Housing Sherif El-Sherbiny said during pre-signing talks that the agreement covers the maintenance and management of important facilities and the provision of integrated urban services to residents, tourists, and businesses in the CBD.

El-Sherbiny emphasized that this move represents a significant transition in Egypt's approach to public facility management – from traditional models to performance-based governance rooted in quality and sustainability.

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The signing ceremony on Sunday was also attended by Egyptian Prime Minister Mostafa Madbouly, China's Vice-Minister of Housing and Urban-Rural Development Dong Jianguo, and representatives of China State Construction Engineering Corporation, which led the construction of the CBD.

Located in the heart of the desert some 50 km east of the capital Cairo, the CBD is one of the key projects of the China-Egypt joint construction of the Belt and Road Initiative. The project includes 20 commercial and residential skyscrapers as well as supporting municipal infrastructure, among which is a 385.8-meter-high iconic tower, the tallest building in Africa.