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Publish date16 Mar 2015 - 12:53
Story Code : 185816

UAE, Egypt to build Egyptian new capita

Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum and Egyptian President Abdel Fattah Al-Sisi have signed an agreement to build a new administrative and business capital for Egypt.
UAE, Egypt to build Egyptian new capita
It is planned to be built at Ain Al-Sokhna Road, to the east of Cairo, over 700 sq. km (270 sq. miles) 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 Emirates News Agency (WAM) reported.

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

According to OANA, Sheikh Mohammed and President Al-Sisi were briefed about the huge aspects of the design. More than 35 specialized Egyptian construction companies will take part in the implementation of the project.

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.
/SR
https://taghribnews.com/vdcizwazqt1avv2.ilct.html
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