The New Administrative Capital, the new future capital of the Arab Republic of Egypt, is a new fourth-generation city, located in Cairo Governorate, and managed through the Administrative Capital Company for Urban Development. It was established by decision of the President of the Arab Republic of Egypt, Abdel Fattah El-Sisi No. 57 of 2016, and its establishment was announced during a support conference. And the development of the Egyptian economy, which was held in Sharm El-Sheikh from March 13 to 15, 2015, and was contracted with the United Arab Emirates to establish it during the conference activities. The total area of the city is about 170 thousand acres (688 km²), which is larger than the area of Singapore and four times larger than the city of Washington, the capital of the United States of America. It is about 60 km away from the city of Cairo in the east direction, and about 65 km away from the city of Suez in the west direction. It is planned to accommodate approximately 6.5 million people upon completion of its entire construction phase.
The Administrative Capital was established to alleviate congestion in the city of Cairo, and to become the new capital and the seat of Egypt’s government by the end of June 2022, where the headquarters of the Presidency of the Republic, the Prime Minister’s Office, the House of Representatives, the Senate, ministries, government agencies and agencies, as well as embassies and consulates of foreign countries, will be moved, and it will be the center. Egypt's financial district is located in the financial and business district, which will include the headquarters and regional offices of major Egyptian and international companies and banks. The city is administratively divided into 20 neighborhoods and areas with different uses. It will also include, for example, the strategic headquarters of the state leadership, the city of arts and culture, the Egypt International City for the Olympic Games, and the city of... Knowledge, and the Green River, which will extend for more than 35 km, making it six times larger than Central Park in New York City.
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The New Administrative Capital project was announced in 2015 to include the new presidential palace, the parliament, the government, and an upscale diplomatic district. It will be the headquarters for ministries, official bodies, and embassies in Egypt, and a headquarters for companies and private sector institutions. It also includes resorts, modern shopping centers, and upscale residential neighborhoods with investments amounting to $45 billion in the signing of a project agreement. It was built between Emaar Properties, the Emirati company investing in the project, represented by its Chairman of the Board of Directors, Mohamed Alabbar, and on the Egyptian side, the Minister of Housing, Utilities and New Urban Communities, Mustafa Kamal Madbouly. The signing was witnessed by the Vice President of the Emirates, Sheikh Mohammed bin Rashid Al Maktoum, and Egyptian President Abdel Fattah Al-Sisi. It was planned that more than 35 Egyptian companies specialized in construction and contracting would participate in its implementation and that it would take 5 to 7 years to complete.
The Emirati company withdrew from the project shortly after its announcement. Major General Ahmed Zaki Abdeen, Chairman of the New Administrative Capital Company, indicated in 2018 that the total cost of the first phase of the capital amounted to 300 billion pounds (about 16 billion dollars at the time), which would be completely completed within 3 years. Since then. The cost of the first phase through 2021 was estimated at $25 billion; The army and the government bore the burden of saving, and it was pumped from outside the state’s general budget. Khaled Al-Husseini, spokesman for the new capital at the time, said, “Implementation rates in the first phase exceeded 60 percent in all projects.” While the head of the company, Major General Abdeen, said that the cost of the government district alone reached 50 billion pounds, which was financed from the proceeds of land sales, and that the New Administrative Capital Company will collect a rental value from the government when it receives these facilities and buildings.
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