Egypt to build a new capital

[Al Bhatti]

14 March 2015

Shaikh Mohammed, Sisi witness signing of pact to build Egypt’s new capital
The new administrative and business capital for Egypt to be built at a cost of 150 billion Egyptian pounds at Ain Al Sokhna road, to the east of Cairo.

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and Egyptian President Abdul Fattah Al Sisi have attended the signing of an agreement to build a new administrative and business capital for Egypt at a cost of 150 billion Egyptian pounds.

It is planned to be built at Ain Al Sokhna road, to the east of Cairo, over 700sqkm and houses about seven million residents.

The signing ceremony took place on the sidelines of Egypt Economic Development Conference in Sharm Al Sheikh, Egypt.

The deal was signed by Mohammed Ali Al Abbar, Chairman of Emaar, which is investing in the project, and, from the Egyptian side, by Dr Mostafa Madbouly, Minister Ministry of Housing, Utilities and Urban Development.

Among others present were Shaikh Abdullah bin Zayed Al Nahyan, Foreign Minister, and members of delegation accompanying Shaikh Mohammed bin Rashid, Egyptian Prime Minister Ibrahim Mahlab, a number of ministers and senior officials.

Shaikh Mohammed and President Sisi were briefed about the huge aspects of the design. More than 35 specialised Egyptian construction companies will take part in the implementation of the project. The new capital will host ministries, official institutions and embassies, headquarters for companies and private sector firms. It will also include resorts and modern shopping centres and residential neighbourhoods.

The UAE Vice President, President Sisi, Shaikh Abdullah bin Zayed, Dr Sultan bin Ahmed Sultan Al Jaber, UAE Minister of State, and Madbouly toured the exhibition held on the sideline of the conference to feature the new administrative capital. Dr Madbouly briefed them about the details of a colossal project, which will be constructed between Cairo and Suez Canal, adding that the new capital will be named after His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The promising city will be the new administrative capital of Egypt and will absorb about seven million people. After completion of the construction, the new capital will be linked to Cairo and the Suez Canal.

Shaikh Mohammed bin Rashid and the Egyptian president appreciated the project, describing it as “a true reflection of the depth of fraternal ties between the UAE and Egypt’s leadership, its government and people.”

Shaikh Mohammed, Sisi witness signing of pact to build Egypt’s new capital - Khaleej Times

 

[xenon54 out]

Huge opportunity for Turkish construction sector lost, thx to Erdogan and his brilliant FP.

 

[Serpentine]

Why is it so close to Cairo? Egypt has a large and highly concentrated population, I don't think making another huge city besides Cairo will help the over population in urban areas that much.

 

[Ceylal]

Investors go wherever they can make money.
If they can make money in hell they will invest there

Amazing, we had the same ones signing for projects in Algeria, nothing came out of it, because they wanted to use Algerian money..Investors come with their pocket full...These came with theirs empty...and my question is did Sissi sold Egypt?
They already help egypt with $23B, they have just pledged another twelve, and then this new city that will cost upward $45B....

 

[Frogman]

Why is it so close to Cairo? Egypt has a large and highly concentrated population, I don't think making another huge city besides Cairo will help the over population in urban areas that much.

The idea is that it would be a natural extension of Cairo (Just as other cities around it are like the 6th of October, 10th of Ramadan, and Alsheikh Zayed) to the east. More importantly, it will reach Al-ain Alsokhna which overlooks the Red Sea and more importantly is a gate way to the Suez Canal and beyond. Essentially what they're trying to do is to link Egypt's two biggest projects.

The project should provide over a million housing units, two thousand schools, and over six hundred hospitals and is projected to house over five million people. It will cost 45 Billion dollars over the next ten years.

There are other cities and extensions planned, so while it won't deal with Cairo's population increase alone, it wasn't meant to.

Amazing, we had the same ones signing for projects in Algeria, nothing came out of it, because they wanted to use Algerian money..Investors come with their pocket full...These came with theirs empty...and my question is did Sissi sold Egypt?
They already help egypt with $23B, they have just pledged another twelve, and then this new city that will cost upward $45B....

You're getting confused between foreign investments and donations or aid to Egypt's foreign cash reserves. The $12.5B donated by the GCC countries goes to the reserves while the penned deal for $45B (Cairo Capital) is foreign investment (as are all other deals signed during the economic conference)

 

[Ceylal]

You're getting confused between foreign investments and donations or aid to Egypt's foreign cash reserves. The $12.5B donated by the GCC countries goes to the reserves while the penned deal for $45B (Cairo Capital) is foreign investment (as are all other deals signed during the economic conference)

I am not really confused, are Egyptian buying it?

 

[mahatir]

I am not really confused, are Egyptian buying it?

Continue barking all you want while Egypt moves forward .

The idea is that it would be a natural extension of Cairo (Just as other cities around it are like the 6th of October, 10th of Ramadan, and Alsheikh Zayed) to the east. More importantly, it will reach Al-ain Alsokhna which overlooks the Red Sea and more importantly is a gate way to the Suez Canal and beyond. Essentially what they're trying to do is to link Egypt's two biggest projects.

The project should provide over a million housing units, two thousand schools, and over six hundred hospitals and is projected to house over five million people. It will cost 45 Billion dollars over the next ten years.

There are other cities and extensions planned, so while it won't deal with Cairo's population increase alone, it wasn't meant to.



You're getting confused between foreign investments and donations or aid to Egypt's foreign cash reserves. The $12.5B donated by the GCC countries goes to the reserves while the penned deal for $45B (Cairo Capital) is foreign investment (as are all other deals signed during the economic conference)

Da wad sharmoot sebak meno

 

[Hassan Al-Somal]

All the best to brotherly Egypt.

 

[Ceylal]

Continue barking all you want while Egypt moves forward .

Yours is moving forward too...wahabi @ss fractured nitwit.

Da wad sharmoot sebak meno

Oukhtek ma chab3atch meni..

 

[Hell NO]

I have noticed something that the government signed the contract for stage one only which is this one

but not the full city which is this one

but iam not sure

Huge opportunity for Turkish construction sector lost, thx to Erdogan and his brilliant FP.

We have noticed that with morsi and the mbs they only think about their own interest when dealing with anything they don't care if this gonna to harm egypt as long as it is in their interest they will do it.
I have a question as turk what percentage of turks support him and way do they support him

 

[xenon54 out]

I have noticed something that the government signed the contract for stage one only which is this one

but not the full city which is this one

but iam not sure


We have noticed that with morsi and the mbs they only think about their own interest when dealing with anything they don't care if this gonna to harm egypt as long as it is in their interest they will do it.
I have a question as turk what percentage of turks support him and way do they support him

Morsi? Most dont care about him, its just some AKP followers who repeat the words of their master like a parrot, nobody would care about him if Erdogan didnt.
The same goes to that Bangladeshi islamist who got hanged, 99.9% didnt know him before and 99.9% already forgot him.

 

[OTTOMAN]

you guys can't build em anyways... you needs jews to make them.

Are you stupid? indeed hate knows no limits....
When it comes to Engineering, Egyptians stand tall in world community.. and when it comes to civil Engineering.. Egyptian leads in architecture & design and project execution.

Mostly GCC's arabs don't invest or put their money in Arab countries, they prefer Europe or the US...Did Sissi sold Egypt without the Egyptian knowing?

Sold means what? GCC's property giants had been investing in Egypt from long time.

 

[Hell NO]

Morsi? Most dont care about him, its just some AKP followers who repeat the words of their master like a parrot, nobody would care about him if Erdogan didnt.
The same goes to that Bangladeshi islamist who got hanged, 99.9% didnt know him before and 99.9% already forgot him.

Oh sorry I meant Erdogan by the question
morsi was a certified idiot

 

[xenon54 out]

Oh sorry I meant Erdogan by the question
morsi was a certified idiot

Well the last decade he and his party get around half of the votes.

 

[masud]

it will be grat , congrats to our eqyptian brothers.................