Egypt is preparing for a huge expansion of its new capital, located in the desert east of Cairo. This project is part of President Abdel Fattah al-Sisi’s plan to support economic growth and accommodate Egypt’s growing population. The first phase of the New Administrative Capital (NAC) is already in use, with government employees working in the new ministries and offices.
The NAC is designed to be a high-tech, modern city that can accommodate part of Egypt’s population, which is increasing by 1.6% annually. The first phase of the city includes impressive structures like a 70-story tower, an opera house, a mega-mosque, and the largest cathedral in the Middle East. Transportation infrastructure, including an electric train and an elevated monorail, is also being developed.
The second, third, and fourth phases of the NAC are in the planning stages, with a projected total population of 1.5 million in each phase. The city will also feature a ten km-long park called the “Green River” and a giant sports area called Olympic City, which includes a 93,000-seat stadium.
The ambitious project has already cost 500 billion Egyptian pounds for the first phase, with an estimated additional cost of 250-300 billion pounds for the second phase. To fund these expenses, the company overseeing the project, Administrative Capital for Urban Development (ACUD), plans to float 5-10% of its shares on the stock exchange by the end of 2024.
Despite criticism from some about diverting resources and increasing Egypt’s debt burden, the NAC is moving forward with the goal of providing a modern, sustainable city for Egypt’s future.
