Al Maqsad New Capital Egypt is an ambitious project that aims to create a new capital city for Egypt. The project was announced in March 2015 by the Egyptian government and is expected to be completed by 2022.

The new capital city is planned to be built in the desert east of Cairo, and will be located near the Suez Canal, the Red Sea, and the Gulf of Aqaba. The city will be home to approximately 7 million people and will include a new airport, a business district, educational institutions, and a range of other amenities.

The project is expected to cost up to $45 billion and will be funded by the Egyptian government, private investors, and international lenders. The city is also expected to create jobs for up to 2 million people.

The new capital city is part of Egypt’s plan to diversify its economy away from its reliance on tourism and agriculture. It is hoped that the new city will attract investment from around the world and create a hub for new businesses and industries.

The project has been met with mixed reactions from the public. Some have expressed concern that the project will be too expensive and that it will cause environmental damage. Others have welcomed the project, claiming that it will create jobs and boost the economy.

The Egyptian government has said that the project will be carefully planned and managed to ensure that it is environmentally sustainable. It is also hoped that the new city will help to reduce overcrowding in Cairo and provide better living conditions for the country’s growing population.