Egypt’s New $58B Capital Aims to Host 6.5M Residents. Take a Look.

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Angle down icon An icon in the shape of an angle pointing down. The Iconic Tower. Xinhua News Agency via Getty Images In an attempt to tackle overcrowding in Cairo, Egypt’s government decided to build a new capital. The city, which already holds Africa’s tallest building, is expected to cost $58 billion to build.The eye-watering cost of the project has drawn criticism from some quarters.

Like Indonesia, Egypt is building a new capital — although in this case, it’s responding to the challenge of overcrowding.

The existing capital, Cairo, is home to about 22 million people, making it one of the world’s most densely populated metropolitan areas. Policymakers believe that constructing new city could help to reduce congestion there.

It has yet to be given an official name but is often to referred to as the New Administrative Capital.

The city is being built in the desert 30 miles away from Cairo and already hosts an imposing skyscraper in the central business district.

Egypt’s government has forecast that the new administrative capital will cost $58 billion to complete.

More than 1,500 families have already moved there, CNN reported, citing Khaled Abbas, chairman of the Administrative Capital for Urban Development, which oversees the project.

The plan is for it to eventually have 6.5 million residents. Take a closer look at the details.



This article was originally published by a www.businessinsider.com

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