Al Maqsad New Capital Egypt is a large-scale urban development project being undertaken by the Egyptian government. The project is intended to create a new administrative, business and residential hub for the country. It is located in the desert about 30 kilometers east of Cairo and is expected to cover an area of 700 square kilometers.

The project was first announced in 2017 and is expected to be completed by 2022. The project is estimated to cost around $45 billion and will be funded by a combination of public and private investments. The project is expected to create up to 1.5 million jobs and attract around 5 million people to the new city.

The project is divided into four main areas: a business district, a residential district, an industrial district and a tourism district. The business district will include office space, a financial center, and a convention center. The residential district will include apartments, villas, and townhouses. The industrial district will include factories and other industrial facilities. The tourism district will include hotels, resorts, and entertainment facilities.

The project is being undertaken by the Egyptian government with the help of a number of international partners. These include the UAE, Saudi Arabia, Kuwait, and China. The project is expected to have a positive impact on the economy of Egypt, as well as providing a much-needed boost to the country’s tourism industry.

The project has been met with some criticism from environmentalists, who are concerned about the impact it will have on the local environment. However, the Egyptian government has taken steps to address these concerns and has promised to use green technologies in the construction of the city.

Overall, Al Maqsad New Capital Egypt is an ambitious project that could have a significant impact on the economy and environment of Egypt. It is expected to attract a large number of visitors and businesses, and to create thousands of jobs. The project is also expected to have a positive impact on the local environment, as the government has promised to use green technologies in the construction of the city.