Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Egypt announces plans to build new capital

by

Sharm el Sheikh, Egypt Mar 14, 2015 - 12:00 am GMT+3
No Image
by Mar 14, 2015 12:00 am
Egypt plans to build a new administrative and business capital east of Cairo that will house five million people, a minister announced Friday at a global investor conference.

The proposed new city was presented to potential investors at the three-day conference, which began Friday in the Red Sea resort of Sharm el-Sheikh.

Unveiling an initial plan in front of global leaders and diplomats attending the conference, Housing Minister Mustafa Kamel Madbuli said the new city will be built between Cairo and the canal city of Suez.

He said the proposed 700 square kilometre (270 square mile) city will house up to five million people in 25 residential districts.

"The idea to build the new city originated from our awareness that Cairo's current population will double in the next 40 years," Madbuli said in a presentation showcasing the details.

Cairo's population is expected to grow to 40 million by 2050 from the current 18 million, according to the website of the city.

Parliament, presidential palaces, government ministries and foreign embassies would move to the new metropolis from out of Cairo, the minister said, adding these projects would be executed over the next five to seven years at a cost of $45 billion (42.9 billion euros).

An overall cost for the new city was not revealed, nor were details on how it would all be funded.

Madbuli said the new city will have large green spaces and provide a "better standing of living".

It will also have "an international airport, a theme park four times bigger than Disneyland in California, 90 square kilometres of solar farms, and an electric train" to link the new city with Cairo, he added.

"The master plan is to create a global city with smart infrastructure for Egypt's future, which will provide a multitude of economic opportunities and offer a distinct quality of life," an online plan of the city said.

President Abdel Fattah al-Sisi hopes investors meeting in Sharm el-Sheikh will help kick-start Egypt's troubled economy.

The conference aims to attract billions of dollars into Egypt's economy, and on Friday Saudi Arabia, Kuwait and the United Arab Emirates pledged to offer $ 12 billion dollars (11.4 billion euros) as investment aid to the country.
  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    homepage
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    In photos: One of the worst landslides in modern Norwegian history
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021