LIVING "By the Real Estate Leaders" Summer 2015 - Issue #6 | Page 8

New Capital... Go or no Go ?

Held in March, Egypt’s Economic Development Conference unveiled many surprises and well-crafted plans for the years
to come, not the least of which was the announcement of Egypt’s new administrative capital. Housing Minister Dr. Mostafa
Madbouly announced that the new capital, which has not yet been named, will be located in an undeveloped area east of
Cairo on the road to the port city of Suez.
The new capital, which is expected to cover 700 square kilometers, will serve as the new administrative capital of Egypt
and will house main government departments, presidential palaces, Parliament buildings, and ministries, in addition to
foreign embassies. The plan includes a major theme park, a park twice the size of New York’s Central Park, as well as 660
hospitals and clinics, 1,250 mosques and churches, and an international airport at the site of Wadi al-Jandali Airport. In
the initial announcement, Madbouly noted that the transfer of government offices and embassies would be completed
between 2020 and 2022.

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