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Egypt to start work on Phase I of $45 billion Capital City
February 22, 2017
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CAIRO: Egypt said that preparations were underway for the launch of the first phase of the new $45 billion Capital City which will boast several key amenities such as a business and finance centre, an exhibition fair city and residential units on 10,500 acres of land in Cairo.

Dubbed as Egypt’s administrative capital, the Capital City development is to kick-start Egypt’s economy.

On completion, it is expected to grow from 18 to 40 million people by 2050.

The project will be built over 700 sq km east of Cairo between Greater Cairo and the Red Sea and will be executed within five to seven years.

Reuters

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