Egyptian builders work at the construction site of the new administrative capital, 50km east of Cairo, Egypt, on March 18, 2018. The new administrative capital construction is a national mega project initiated as a bid to relieve the highly-congested Cairo. The construction started in April, 2016 and is designed to gradually expand over an area of 700 square km. (Xinhua/Ahmed Gomaa)

CAIRO, March 18 (Xinhua) -- Egypt on Sunday laid the cornerstone of the Central Business District (CBD) in its new administrative capital, which is located 50 km east of the capital Cairo.

To be implemented by China State Construction Engineering Corporation (CSCEC), the CBD project includes 20 residential, administrative, commercial and services' towers, including one 385-meter skyscraper, the would-be highest building in Africa, Egyptian Prime Minister Sherif Ismail said.

"The CBD will provide thousands of job opportunities," he added.

Egypt will be able to compete with the world largest cities with the construction project, which is to be built on an area of 1.7 million square meters, said Egyptian Minister of Housing Mostafa Madbouly.

He added that the project would be completed in 7-8 years under normal circumstances, but the CSCEC, along with other Egyptian construction companies, will finish it in only three years.

Egypt had previously sought to develop the project with a Dubai real estate company before reaching a 3-billion-U.S. dollar construction deal with the CSCEC in October 2017.

Egypt's new administrative capital has a total designated area of 700 square km.