Egypt's New Administrative Capital is an ambitious project that aims to transform the country's capital into a world-class business hub. The project will be located on an area of 700 square kilometers, which is around twice the size of the current capital, Cairo. It is expected to be completed by 2022 and will be home to 6.5 million people.

The project is being funded by the Egyptian government, and is a joint venture between the country's Ministry of Housing, Utilities, and Urban Development and the Chinese state-owned company China Fortune Land Development Co. Ltd. (CFLD). The project includes a new airport, a business district, a technology park, residential areas, and a number of government buildings.

The project is expected to create over one million jobs, and attract billions of dollars in foreign investment. It is also expected to reduce overcrowding in Cairo, and improve the quality of life for its citizens.

The project is part of a larger plan to modernize Egypt's infrastructure and economy. The government has already invested heavily in the country's transportation networks, and is now looking to invest in the country's business sector. The new administrative capital is expected to be a major driver of economic growth, and will help to attract foreign investment and create jobs.

Overall, the new administrative capital is an important step towards modernizing Egypt's economy and infrastructure. It is expected to be a major driver of economic growth, and will help to attract foreign investment and create jobs. It is also expected to reduce overcrowding in Cairo, and improve the quality of life for its citizens.