The Ri8 New Capital Egypt is a new large-scale project set to transform Egypt’s economy and create a new hub for business and investment in the country. The project, which is expected to cost $45 billion over five years, is the largest of its kind in the region and will be a major boost to Egypt’s economy. The project was announced in 2017 by President Abdel Fattah al-Sisi and is being developed by the New Urban Communities Authority (NUCA).
The project is being built on a 700-square-kilometer area of land located 45 kilometers east of Cairo and will include a number of commercial and residential projects, including a new financial district, a new administrative district, a new industrial zone, and a new metropolitan area.
The project will also include 8 new cities, a theme park, a business district, and a residential district. It is expected to create more than one million jobs in the country and attract more than $50 billion in investments. The project will also help to reduce overcrowding in Cairo, which has an estimated population of 20.7 million.
The project is being funded by the Egyptian government, a number of foreign investors, and a number of private sector