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Business Standard
09-06-2025
- Business
- Business Standard
Egypt's new capital city to be built, operated by Chinese construction firm
Egypt is getting a new capital — and China is building it. The China State Construction Engineering Corporation (CSCEC), a state-owned Chinese firm, has signed an agreement to operate and maintain the central business district (CBD) of Egypt's new administrative capital, according to the South China Morning Post. CSCEC is also the main contractor responsible for constructing the district. Egypt is constructing a new administrative capital (NAC), located approximately 45 kilometres east of Cairo, to alleviate the congestion and pollution of the current capital. This ambitious project, part of Egypt's Vision 2030, aims to house over six million people and serve as the country's new political and administrative hub. Spanning 700 square kilometres, the NAC includes a $3.8 billion CBD featuring 10 office towers, five residential skyscrapers, and four hotels. Its centrepiece is the 385.8-metre Iconic Tower, now the tallest building in Africa. The district will also include supporting infrastructure and smart city features. CSCEC's newly expanded role will go beyond construction. Through a joint venture called Horizon Operations Management (Egypt) Co Ltd, the company will oversee services such as property management, utilities, public cleaning, security, green space maintenance, and environmental monitoring. This marks a shift toward the build-operate-maintain model that Chinese firms are increasingly adopting in infrastructure projects across Africa. 14 ministries already moved to Egypt's NAC Egypt has already started moving government operations to the new city. As of May 2023, 14 ministries and other state bodies had relocated. President Abdel Fattah al-Sisi inaugurated the NAC as the seat of government on 2 April 2024, shortly after the start of his third term. China's role in the project also includes significant financing. Around 85 per cent of the CBD's funding comes from Chinese lenders, including a $2.2 billion loan from a consortium led by China Exim Bank. In addition, Egypt's Arab Contractors Company and CSCEC have formed a joint venture to collaborate on further projects across the continent. Capital city vs administrative capital A capital city typically serves as the centre of governance and is symbolic of national identity. It usually hosts the executive, legislative, and judicial branches, along with being a cultural or economic hub. An administrative capital, by contrast, is where the day-to-day functions of government are carried out, such as housing ministries, agencies, and civil services. In some countries, this is a separate city from the official or historical capital. South Africa, for instance, has three capitals: Pretoria (administrative), Cape Town (legislative), and Bloemfontein (judicial). Malaysia relocated its administrative capital from Kuala Lumpur to Putrajaya in the 1990s, while Kuala Lumpur remains the national capital. New smart capital signals strategic shift Egypt is following a similar model. While Cairo will remain the capital in name, the country is relocating its core government functions, including ministries and public administration, to the newly built New Administrative Capital. The New Administrative Capital is designed as a smart city, with technology integrated into public services and infrastructure. Its development also reflects Egypt's economic ties with China, aligning with Beijing's Belt and Road Initiative.
Business Standard
17-05-2025
- Business
- Business Standard
Charms India Pvt Ltd launches Charms Iconic Tower and 58 High Street in Ghaziabad, Uttar Pradesh
VMPL New Delhi [India], May 17: Charms India Pvt Ltd is set to unveil their latest landmark developments - Charms Iconic Tower and 58 High Street - crafted to set new standards in residential and commercial real estate. Charms Iconic Tower is more than just a home - it's a lifestyle destination. Featuring spacious 8 ft balconies, a double-height grand entrance, and a stylishly furnished lobby with a waiting area, this residential project offers unmatched elegance. Residents will enjoy a fully operational clubhouse, premium amenities, and an upcoming swimming pool that together create an elevated living experience. On the commercial front, 58 High Street is a premium six-floor destination, strategically designed for visibility and footfall. It boasts a double-height food zone, operated by Food Forum, with decorative, lockable furnished spaces that offer ideal setups for top F & B brands and businesses. Both projects offer high returns, excellent locations, and the Charms Group's legacy, making them an exciting investment opportunity where lifestyle meets opportunity. Founded by Mr. Ajay Singhal in 1996, Charms India is a leading real estate builder and construction company based in Ghaziabad, Uttar Pradesh. We have delivered high-quality residential and commercial projects tailored to modern needs. Guided by our motto, "Customer Satisfaction is Our Reward," we are committed to building dream homes with excellence and care. 58 HIGH STREET and ICONIC TOWER are another milestone in their journey, promising an unmatched commercial and residential experience in Raj Nagar Extension- Ghaziabad. Best Commercial Project in Raj Nagar Extension, Ghaziabad 58 High Street redefine the skyline of Raj Nagar Extension, setting new standards in modern commercial spaces. With prime location, top-tier amenities, and unmatched connectivity, it's the ultimate destination for businesses to thrive. New Residential Projects in Raj Nagar Extension, Ghaziabad Charms Iconic Tower offers a perfect blend of comfort, style, and convenience in the heart of Raj Nagar Extension. With modern amenities, spacious layouts, and serene surroundings, it's an ideal place to call home. Best Opportunity for Investment in Raj Nagar Extension 58 High Street and Iconic Tower offer a prime investment opportunity with high growth potential and excellent returns. Strategically located and thoughtfully designed, these projects are ideal for both commercial and residential investors. Charms India has been a trusted name in real estate for nearly three decades. With a reputation built on innovation, reliability, and customer satisfaction, the company has consistently delivered high-quality residential and commercial projects. Their commitment to timely delivery, premium construction, and customer-centric development has made them a preferred choice for investors and homebuyers alike. With our commitment to superior construction standards, innovative designs, and cutting-edge features, we have played a pivotal role in shaping the Ghaziabad skyline. Today, our projects are not only appreciated by the industry but also loved by our customers. The exceptional quality and attention to detail in our developments have earned us a reputation as one of the leading real estate developers in Ghaziabad. Their Achievements: * Completed numerous successful residential developments in Shalimar Garden, Rajender Nagar, Indirapuram, and Ghaziabad. * Focused on creating homes that blend modern architecture, premium amenities, and a sense of belonging. Charms Castle - Iconic Tower : Majestic Homes for Modern Families Iconic Tower is a premium 20-storey landmark situated in the heart of Raj Nagar Extension, facing the main road for excellent visibility and access also featuring Charms Square, a vibrant commercial space. With modern design and stunning views, it's ideal for both residential and commercial use. Charms Castle - Iconic Tower! A well-designed floor layout optimizes space, enhances functionality, and ensures a seamless flow. Located in the heart of Raj Nagar Extension, Ghaziabad, Charms Castle offers a luxurious 3BHK home that combines modern living with exceptional convenience. Just 2km from the Rapid Metro, this home is perfect for those seeking accessibility and comfort. Situated on a prime 45-meter road, the property boasts top-notch amenities like a premium club and an upcoming swimming pool, ensuring an elevated living experience. Experience the perfect blend of elegance, comfort, and modern living at Charms Castle - where your dream home awaits! Spacious 8ft Balconies : Perfect for Relaxation and outdoor living Invest in 58 High Street: A Landmark Commercial Hub by Charms India Multiplex. Gaming. Shopping. Food Zone 58 High Street is a premium retail and dining destination spread across 1.32 acres with 6 floors. It features a 6-screen multiplex, a food and entertainment zone, fine dining options, and basement parking. A perfect blend of convenience, leisure, and modern design. The 58 High Street project features 3 floors of retail shops, a fine dining floor, an entertainment zone, and a top-floor 4-screen multiplex. With modern design, vibrant spaces, and ample parking, it's a hub for shopping, dining, and entertainment. * Project spreads over 5000 sq. mtr. * Shop space starting from 27.11sq. mtr. * A two side open plot adjoining green belt * High-street with Retail shop space, Multiplex & Food court * Stunning elevation with latest technology * Two level basement parking with automated car parking system * High Speed lifts & elevators * Project with 24X7 Security using CCTV camera surveillance * RERA registration no. UPRERAPRJ568355 (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Yahoo
14-02-2025
- Business
- Yahoo
Council on Tall Buildings and Urban Habitat 2025 Trends & Forecasts Report Reveals Shifting Global Skyline and New Market Realities
Chicago, Feb. 05, 2025 (GLOBE NEWSWIRE) -- The Council on Tall Buildings and Urban Habitat (CTBUH) today released its , which delivers an in-depth analysis of the current state and trajectory of tall building construction worldwide. The report captures key industry movements, including new geographic milestones, economic opportunities and challenges and the ongoing evolution of skyscraper design and function. It is an essential resource for architects, engineers, developers, urban planners and other professionals navigating the ever-changing international tall building landscape. "The global tall building industry is experiencing a dynamic transformation," explained CTBUH CEO Javier Quintana de Uña. "We continue to witness significant completions and milestones—such as Africa's first-ever supertall building—and we're encouraged by an accelerating trend for renewing and repositioning older structures, a movement that simultaneously preserves architectural heritage and advances the prospect of more sustainable urban development.' Key findings from the 2025 Trends and Forecasts report: The global count of 200m+ buildings now exceeds 2,400, doubling since 2017. 2024 marked the 11th consecutive year with over 100 completions of 200m+ buildings. Iconic Tower, Cairo (393.8m), became Africa's first supertall (300m+) building and the tallest completion of 2024. For the first time, buildings in Egypt and Türkiye entered the World's 100 Tallest Buildings list, marking a significant geographic diversification in high-rise construction. A record 256 stalled or 'on hold' projects worldwide contributed to fewer completions in 2024, signaling continued challenges into 2025. 'There's a need for vigilance, too,' continued Quintana de Uña. 'The rise in stalled projects underscores the volatility in today's construction landscape. As we move forward, resilience and adaptability will be crucial in shaping the future of vertical urbanism." Geographic and functional shifts China remains a dominant player in the worldwide tall building arena, accounting for more than 60% of global 200m+ completions in 2024. But the composition of the World's 100 Tallest Buildings is evolving: Asia's share declined slightly from 63% in 2023 to 61% in 2024, while the Middle East gained one entry, and Africa rejoined the rankings for the first time since 1985. Mumbai completed five tall buildings this year, the most of any city outside China. From 2020 to 2024, the city added 32 buildings over 200 meters, matching Hangzhou, which ranks 20th globally for such structures. Some projects in Mumbai faced long construction pauses before resuming, highlighting opportunities for future completions. One example is Palais Royale, an imminently anticipated 300m+ tower that began in 2008 and started delivering residences after receiving a partial occupancy permit in October. Functional shifts are also apparent: Two new hotel buildings entered the World's 100 Tallest Buildings list, displacing mixed-use projects, while office and residential tall buildings remained steady at 36 and 10, respectively. Buildings under 200 meters tall are increasingly being converted or repurposed to meet changing market demands and sustainability goals. With office vacancy rates rising, many of these buildings are being transformed into residential, hotel, or mixed-use spaces. This shift highlights a growing industry preference for adapting and reusing existing structures rather than tearing them down, making better use of underutilized buildings in more flexible and resilient ways. Economic and supply chain pressures The tall building sector is feeling the impact of rising interest rates, post-pandemic supply chain corrections and tightened financing. Delays in construction timelines have increased, and developers worldwide are reassessing their portfolios amid uncertain economic conditions. "The combination of financial uncertainty and evolving urban demand is reshaping the global skyline," said Jason Barr, Professor of Economics at Rutgers University-Newark and a member of the CTBUH Height and Data Committee. "We are witnessing a recalibration period where developers are more cautious, and this is reflected in the number of stalled projects." Predictions for 2025 At least 135 buildings 200 meters or taller are expected to be completed, with 12 to 20 reaching supertall status (300m+). Jeddah Tower, the world's first planned 1,000-meter building, resumed construction in late 2024, signaling renewed optimism for megatall (600m+) projects. While market pressures persist, new geographic entries and advancements in construction technology will shape the next wave of tall buildings. The CTBUH 2025 Trends & Forecasts report provides a wide range of interactive data—including breakdowns of the World's 100 Tallest Buildings by region, function, material, and average height trends—that help industry professionals keep abreast of these developments. Council on Tall Buildings and Urban Habitat The Council on Tall Buildings and Urban Habitat (CTBUH) is a global nonprofit organization dedicated to smarter, more sustainable cities and a more viable future for global populations. Specifically, CTBUH focuses on the critical role of density in addressing climate change. CTBUH is headquartered in Chicago and has offices in Shanghai, China, and Venice, Italy. CTBUH's worldwide membership network includes companies from fields such as real estate development, architecture, engineering, cost consulting, building management and construction, among others. In addition to hosting leading industry events, CTBUH produces research and reports on issues of significant consequence to its membership. Its most utilized asset is the database, a comprehensive compendium of detailed figures, images and technical information on more than 40,000 tall buildings throughout the world. CTBUH is best known to the public for developing international standards for measuring tall building height and is recognized as the arbiter of the 'World's Tallest Building' designation. For more information, please visit . CONTACT: Charles Mutscheller The Council on Tall Buildings and Urban Habitat cmutscheller@
