Boots & Sabers

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1234, 14 Mar 15

New Capital for Egypt

This is certainly ambitious.

The Egyptian government has announced plans to build a new capital to the east of the present one, Cairo.

Housing Minister Mostafa Madbouly said the project would cost $45bn (£30bn) and take five to seven years to complete.

He said the aim was to ease congestion and overpopulation in Cairo over the next 40 years.

The announcement was made at an investment conference that aims to revive the Egyptian economy.

The gathering, in the Red Sea resort of Sharm el-Sheikh, has attracted pledges worth $12bn (£8bn) in aid and investment from Kuwait, Saudi Arabia and the United Arab Emirates.

Mr Madbouly said the population of greater Cairo, estimated at about 18 million, was expected to double within 40 years.

Consider that the price tag is roughly 16% of Eqypt’s GDP. In America, that would be like building a $2.5 trillion project. If they actually start this project, it will be interesting to see how the huge influxes of foreign workers (it’s the only way they could pull this off in their stated timeline) impacts Egyptian society.


1234, 14 March 2015


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