Deal to build Egypt's new capital signed at EEDC
Housing Minister Mustafa Madbouli
Sharm el-Sheikh - MENA
The Egyptian Housing Ministry and the United Arab Emirates-based company Emaar Properties, signed on Saturday an agreement to build a new capital adjacent to Cairo.
The aim is to alleviate congestion and overpopulation in Cairo that will be home to over 80 million people by 2050, Housing Minister Mostafa Madboli said in a presentation at the Egypt Economic Development Conference (EEDC).
In addition to the new embassies and government buildings, the new capital plans to have an international airport, solar energy farms, hotels, schools and hospitals, all linked together by over 10,000 kilometers of new roads.
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