A Chinese joint venture company has won major contracts for the construction of 15,000 residential units for low- and middle-income citizens, besides a new convention centre in Egypt.

The company will also construct the new cabinet’s building along with 12 other ministerial buildings, starting with the premises for the Ministry of Housing under the New Administrative Capital project, reported the Daily News Egypt.

At the inception of the new capital project, which was first launched in March 2014 during the Egypt Economic Development Conference (EEDC), the estimated total cost of construction was $45 billion and construction was supposed to take place within a five to seven-year implementation period, said the report.

Announcing the start of the New Administrative Capital project, Minister of Housing Mostafa Madbouly said four construction companies have already initiated the infrastructure work.

In October, the government had announced that the New Urban Communities Authority (Nuca) will provide the initial investments worth E£5 billion ($559 million) for the project, stated the report.

The new capital will be located along the highway connecting Cairo to the Red Sea, providing links to significant shipping routes.