After a decade of delays, construction of what will be Africa’s tallest building is back on track.
Designed by renowned architect, the late Zaha Hadid, Egypt’s Nile Tower will reach 70 storeys, offering panoramas of the Nile river and, from the top floors, views of the pyramids, as reported by Forbes. The project forms part of a plan to upscale the district between downtown Cairo and the Nile.
Initially, political instability brought the project to a halt, followed by a weak Egyptian pound. The country’s construction sector, however, is considered crucial in driving growth in the domestic economy and key to economic reform.
According to developer Living in Interiors design manager Diaa Tantawy, the project was originally expected to cost US$600 million but this has since escalated to US$750 million. The top 36 floors will comprise apartments, while the middle 18 will host a hotel with a casino, night club, spa and health club. The remaining floors will be used for retail purposes.
‘It will change how the whole world sees Egypt,’ according to Tantawy. ‘We are now strong … you can invest with us.’
Nile Towers is one of 1 400 construction projects currently under way in Egypt – with a combined valued of more than US$248 billion.
