Nile Business City is a proposed New Capital of Egypt located near the Suez Canal. The project was announced in March 2015 by the Egyptian government and is planned to span an area of over 70,000 acres. It will include a range of residential, commercial and entertainment facilities, as well as a business district, transport infrastructure, educational institutions and medical facilities. The aim of the project is to create a modern business hub for the global economy and to provide employment opportunities for Egyptians. The project is estimated to cost around $45 billion, making it the largest investment in Egypt's modern history. Other notable features of the new city include sustainability initiatives such as renewable energy, water management and green building designs. Construction is planned to begin within the next few years and once complete, Nile Business City will become the new seat of government for Egypt.