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Egypt to Build New Capital City
The debut last weekend of a showcase of Egypt's economic might was dominated with optimistic attempts to fuel private sector investments, but the bravest and most audacious of them was a plan for a new administrative capital to the east of Cairo.A city out of the desert. Do you suppose the Juice can give them some pointers? Or maybe they can model Las Vegas? They can dream as their ancestors did: they just need some quarries and an endless supply of slave labor... The project hopes to house five million inhabitants in a 700 square kilometer plot of land between the current capital and the Suez Canal. The entire project would be 12 times the area of Manhattan, seven times larger than Paris, and four times that of Washington DC, according to the press releases. "It will include neighborhoods for all groups of Egyptian society and be a critical center for new employment. It will be truly diverse, catering to all groups of Egyptian society, allowing Egypt to enter new era," he said. All Egyptians? Really? The first phase of construction would cost $45 billion and would take 7 years. Reports from Reuters, who quoted Mohamed Alabbar, the United Arab Emirates real estate tycoon, said it could total $300 billion for completion. Is that in Zim-Bob dollars? Posted by: Bobby 2015-03-25 |
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