Al Maqsad New Capital Egypt is a new city being built in the desert outside of Cairo, Egypt. The project is part of the Egyptian government’s plan to create a new administrative capital for the country. The project is estimated to cost $45 billion and is expected to be completed by 2022.

The new city will be located 45 kilometers east of Cairo and will cover an area of 700 square kilometers. It will include a new airport, a business district, a financial district, a medical district, a technology district, and a residential district. The city will also feature a number of parks, green spaces, and cultural attractions.

The project is being funded by a number of sources, including the Egyptian government, private investors, and international lenders. The government has also announced plans to create a special economic zone in the new city, which will offer tax incentives and other benefits to businesses that locate there.

The project is expected to create up to 1.5 million jobs and attract up to 5 million people to the new city. It is hoped that the new city will help to reduce overcrowding in Cairo and provide a better quality of life for its residents.

The project has been met with some criticism, however, as some have argued that the government should focus on improving existing cities rather than building a new one. Others have also raised concerns about the environmental impact of the project.

Despite these criticisms, the project is moving forward and is expected to be completed in the next few years. It is hoped that the new city will help to improve the economy of Egypt and provide a better quality of life for its citizens.