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Egypt’s New Capital City Revealed

Egypt’s New Capital City Revealed

After more than a year of being shrouded in mystery, Egypt’s new capital city has been revealed in a slick, new website that went live on Friday.*

Dubbed as a ‘global city for Egypt’s future’ and ‘a city shaped by nature’, the new capital city promises to house up to five million people and provide 1.1 million residential units in a location that is situated along the corridor between Cairo and the Red Sea.

According to the city’s website, the new capital’s central business district will be sized 5.6 kilometres squared and the capital will include 663 healthcare facilities, 40,000 hotel rooms and 1,800,000 meters squared of large retail malls. The capital will also provide 1.75 million permanent jobs, 1,250 religious buildings, 700 kindergartens, 21 residential districts, a theme park and more.

More importantly, however, the new capital city aims to be a ‘Smart City’ that will “embrace an ethos of sustainability” by taking advantage of “the sustainable technologies of today as well as being adaptable to future technology, further enhancing its resource efficiency.”

Part of this Smart City will include 91 kilometres squared of energy farms employing renewable energy sources. Moreover, 100 kilometres squared will be preserved parks and will include a park known as the ‘Capital Park’.

According to the website, the new capital will act as a bridge between Egypt’s rich past and its vibrant future.

The website lists Capital City Partners, a private real estate investment fund by global investors focused on investment and development and led by Emirati Mr. Mohamed Alabbar.

Alabbar, 58, is the founder of Emaar Properties, one of the largest real estate development companies in the Middle East which was also responsible for developing the world’s tallest building, the Burj Khalifa.

Capital City Partners claims it has led “mega-developments of a value of over $US 24 billion in over 15 countries, and helmed the creation of global icons that inspire humanity. This includes King Abdullah Economic City in Saudi Arabia…and…Downtown Dubai.”

A conference officially launching the new capital city will be held on Friday.

Check out The Capital’s website here.

$US 12 Billion Investment For Egypt From UAE, Saudi Arabia and Kuwait
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