New Capital City management has announced that the negotiations with China-based contractor CSCEC have officially ended, and that the construction works related to the government district will be carried out by local contractors that offered more competitive prices. Arab Contractors and Orascom Construction are believed to be on the list. On a separate note, the average selling price of land for the upcoming launch of land project of a total of 1,500 feddans is expected to be at EGP3,000/sqm. The bidding documents of the launch will be available starting 12 February. Payment terms are set at 10 years, with a down-payment of 10%. (Al Mal)