Al Maqsad New Capital Egypt is a planned city located in the Eastern Desert of Egypt, about 45 kilometers from Cairo. The new city is being developed by the Egyptian government to serve as a modern center for business, finance, and culture. The project is a major part of the government’s plan to diversify Egypt’s economy and reduce Cairo’s population density.

The city is expected to be a major hub of economic activity, with a focus on technology, finance, and tourism. It will feature a range of modern amenities, such as high-speed internet, modern transportation systems, and advanced infrastructure. The city will also be home to a variety of educational, medical, and cultural institutions, as well as a number of international companies.

The project is being funded by a number of sources, including the Egyptian government, private investors, and international organizations. The new city is expected to create hundreds of thousands of jobs, and to significantly boost Egypt’s economy.

The project is being overseen by a number of government agencies, including the Ministry of Housing, the Ministry of Tourism, and the Ministry of Investment and International Cooperation. The government has also set up a special committee to oversee the development of Al Maqsad New Capital Egypt.

The project is expected to be completed in 2023, and will be home to over five million people. It is hoped that the city will become a major hub of economic activity in the Middle East, and will help to diversify Egypt’s economy.