CAIRO, March 14 (UPI) -- Egyptian leaders uncovered plans for a new capital city east of Cairo to ease congestion and overpopulation in the next 40 years.
The new city, with a sleek and modern design, is expected to encompass some 150 square miles, about the size of Denver, and could be home to more than 7 million people. The exact location has yet to be determined, but developers and city leaders said it will be between the Suez and the Ain Sokhna roads -- two major highways in the area -- and close to the Red Sea.
With a total cost estimated at $45 billion and a seven-year construction time, the not-yet-named city would have new government buildings, embassies, solar energy farms, 40,000 hotel rooms, up to 2,000 schools and colleges and 18 hospitals. There would also be an expansive international airport -- larger than London's Heathrow -- and more than 6,000 miles of new roads.
The plan is backed by Capital City Partners, "a private real estate investment fund by global investors focused on investment and development partnerships."
Related
"The new capital city will address the pressing issue of population density in urban areas of Northern Egypt. It will help to strengthen and diversify the country's economic potential by creating new places to live, work and visit," said a statement on thecapitalcairo.com, a promotional site for the new city.
Egyptian Minister of Housing Mostafa Madbouly, disclosing the plans at an economic development conference in Sharm el-Sheikh, said the construction has already attracted pledges up to $12 billion and investments from various countries including Kuwait and Saudi Arabia.
"We are talking about a world capital," he said.
"It is a wonderful opportunity to be able to design something from scratch, and to design it keeping in mind the needs of the Egyptian people and the Egyptian government," he later told BBC.
If built as planned, it will be a far cry from Cairo's historic, aging infrastructure. Cairo is home to some 18 million people and is known for its overwhelming congestion.
