Sharm al-Sheikh, Egypt (dpa) – Egypt is to build a new administrative capital east of Cairo, Housing Minister Mostafa Madbouly announced Friday.
Government buildings are to be relocated to the new city, which will lie half way between Cairo and the Suez Canal, Madbouly told delegates to an investment conference in Sharm al-Sheikh.
Madbouly painted a picture of a “sustainable city” which would relieve the urban crowding resulting from the expected doubling of Egypt’s 88 million-strong population over the next 40 years.
The new city would draw its aesthetic inspiration from Cairo’s late nineteenth and early twentieth century districts.
It would have green streets “without any fast-moving cars,” with a total of 10,000 kilometres of roads and 200 kilometres of rail transport, the minister announced.
The new capital would house 5 million people and provide ten million permanent jobs, Madbouly said.
The minister said that the project would build on the experience of other major Egyptian infrastructure projects, including new suburbs in the desert outside Cairo and a major land reclamation project in the southern desert.
Many analysts consider those schemes to have been unsuccessful.
Madbouly said the first phase of the new capital would cost up to 45 billion dollars.
Ahead of the official announcement, Investment Minister Ashraf Salman earlier this week told Bloomberg Television that the project would cost 75 to 80 billion dollars and would be built by UAE developers.