Office for Sale in Al Maqsad - New Capital By City Edge Developments

Al Maqsad New Capital Egypt is a proposed new city located in the desert to the east of Cairo. It is intended to be the new administrative, financial, and cultural capital of Egypt. The project was announced in March 2019 by Egyptian President Abdel Fattah el-Sisi, who stated that the new city would be a “modern capital” for the country.

The project is estimated to cost $45 billion, and is expected to take 15 years to complete. The city will be built on an area of 170,000 acres, and will include a new business district, a new airport, and a new port. It will also feature residential and commercial areas, as well as an industrial zone. The project is expected to create 1.5 million jobs and attract up to 5 million people.

The project is being funded by the government of Egypt, as well as private investors. A number of international companies, including Siemens and Samsung, have expressed interest in investing in the project.

The project is expected to help alleviate overcrowding in Cairo, which is currently home to more than 20 million people. In addition, it is hoped that the new city will help to attract foreign investment and create economic opportunities for the country.

The project has been met with some criticism, however. Some have questioned the cost of the project, as well as the potential environmental impact of constructing a city in the desert. In addition, there are concerns that the new city will be a haven for corruption and mismanagement.

Despite these concerns, the project is moving forward. The government of Egypt has already begun the process of acquiring the necessary land for the project, and is in the process of developing a master plan for the city. Construction is expected to begin in 2020.