Business Insider names Egypt’s New Capital among top future cities

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Mon, 31 Jul 2017 - 01:36 GMT

New Administrative Capital- File Photo

New Administrative Capital- File Photo

CAIRO - 32 July 2017: US-based news website Business Insider listed Egypt’s New Administrative Capital among 8 mega-projects that are expected to transform world’s greatest cities.

Coming after China’s Todtown, a huge mixed-use project in Shanghai slated for 2020, the New Cairo Capital was described by the magazine as able to accommodate five million people.

Other mentioned cities were France’s Europa City, Turkey’s New City Istanbul, New York’s The World Trade Center site, Brazil’s new city in São Paulo, Japan’s Shibuya Station Area Redevelopment and England’s Battersea Power Station development.

Located 45 kilometers east of Cairo, President Abdel Fatah al-Sisi announced in 2015 the building of a new city to be a new administrative and financial capital of Egypt.

The New Administrative Capital, which is currently being developed by the New Administrative Capital for Urban Development, is planned to include 21 residential districts, educational institutions, hospitals, 40,000 hotel rooms, a theme park, solar plants and a new international airport.

Beijing-based China Fortune Land Development Company (CFLD) is participating in the project as Minister of Investment Sahar Nasr said in a May statement that the Chinese firm will build a giant project in that city.

Land plots in the new capital have already been launched for investors and developers, who are interested in participating in the mega project.

Participating developers until now are the Arab Contractors Company, Concord for Engineering and Contracting Company, and Talaat Moustafa Group Holding Company.
Tags: New Administrative Capital, Business Insider, New Capital, Cairo, Residential, Urban Development

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