Floria New Capital Egypt is a new development being built in the desert outside of Cairo, Egypt. The project is a joint venture between Egyptian and Emirati developers and is estimated to cost $45 billion. It is the largest construction project in the Middle East and is expected to be completed in 2035.

The project is being built on a total of 7,000 acres of desert land and will include residential, commercial, industrial, and tourism areas. It is expected to house up to 5 million people, making it one of the largest cities in the Middle East. The city will also be home to a new international airport, a Formula 1 race track, and a medical city.

The project is expected to create over 1 million new jobs and generate $20 billion in GDP annually. It will also help to reduce the pressure on Cairo’s existing infrastructure, housing, and transportation systems.

The development is being funded by a mix of public and private sector investments. The Egyptian government has committed $10 billion to the project, while the Emirati government has committed $15 billion. Private investors from the UAE, Qatar, and Saudi Arabia have also committed funding.

The project is seen as a key part of Egypt’s plan to diversify its economy and reduce its reliance on tourism and oil. It is also seen as an opportunity to create a modern city that will attract foreign investment and create jobs.

The project has faced some criticism from environmental groups, who are concerned about the impact it will have on the desert environment. The developers have promised to use green building techniques and renewable energy sources to reduce the environmental impact of the project.

The project is expected to be completed in 2035 and will be a major boost to Egypt’s economy. It will create jobs, attract foreign investment, and provide much-needed infrastructure for the country.