Saturday, March 14, 2015

Egypt Signs Agreement with UAE to Build New Capital East of Cairo

Egypt signed an agreement on Saturday worth $45 billion with the United Arab Emirates (UAE) to build the country’s new capital. Egyptian President Abdel-Fattah al-Sisi and UAE Vice President and the ruler of Dubai Sheikh Mohammed bin Rashid al-Makhtoum witnessed the signing of the agreement in the Egypt’s Red Sea resort city of Sharm el-Sheikh. (Xinhua, 14 March)

The new 70,000-acre capital will be established to the east of Cairo. The first phase involves construction of a downtown city, office towers and hotels along with commercial areas and a stadium. Other parts of the city will house the presidential palace, government ministries and diplomatic missions, as well a large exposition complex.

Photo credit (top): Model of Egypt’s proposed new capital east of Cairo (Xinhua/Twitter)
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1 comment:

Anonymous said...

And just where on earth are the egyptians going to get the 45 billion from?,the egyptian government can barely provide basic services to its population and yet its going to squander tens of billions on a city the country doesnt need,good grief!