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Egypt Presents Ambitious Capital City With $45 Billion Price Tag

© REUTERS / Amr Abdallah DalshA model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015
A model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015 - Sputnik International
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Egypt's government, together with an investment fund that previously worked in Saudi Arabia, has presented a plan for an ambitious new capital city.

Egypt's government has announced plans to build a new capital, immediately east of the current capital, Cairo. The real estate investment fund Capital City Partners, which has completed projects in Saudi Arabia, presented the project.

© REUTERS / Abdallah DalshA model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015
A model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015 - Sputnik International
A model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015

The city promises to house a population of 5 million, and its construction will create 1.75 million permanent jobs.

© REUTERS / Amr Abdallah Dalsh A model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015
A model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015 - Sputnik International
A model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015

The construction will cost an estimated $45 billion, and is meant to offset Cairo's population growth, as the currently overcrowded city of 18 million is expected to grow to 50 million in the next 35 years.

© Photo : The Capital Cairo New capital for Egypt
 New capital for Egypt - Sputnik International
New capital for Egypt

The new capital will be situated between the Nile River and the city of Suez, which lies where the Suez Canal enters the Red Sea.

© Photo : The Capital CairoNew capital for Egypt
New capital for Egypt - Sputnik International
New capital for Egypt

Egypt's new capital is also unique in that it will be built in the country's Eastern Desert and impressive feats of engineering will be required to transform its environment.

© Photo : brasileiro_ruBrasilia
Brasilia - Sputnik International
Brasilia

The city will also be the second "new" capital built in the 21st century, with the last planned capital, Myanmar's Naypyidaw, declared in 2005. Other major planned capitals have been Kazakhstan's Astana, opened in 1997, Tanzania's Dodoma in 1996, Nigeria's Abuja in 1991, Ivory Coast's Yamoussoukro in 1983 and Brazil's Brasilia in 1960.

© WikipediaThe L'Enfant Plan for Washington, D.C., as revised by Andrew Ellicott in 1792
The L'Enfant Plan for Washington, D.C., as revised by Andrew Ellicott in 1792 - Sputnik International
The L'Enfant Plan for Washington, D.C., as revised by Andrew Ellicott in 1792

Planned capitals have also left their mark on history: the United States' Washington, DC, opened in 1800 and Russia's Saint Petersburg, opened in 1712 (before the national government returned to Moscow in 1918). Originally, Saint Petersburg was imagined as a Venice-like city of canals, but frequent flooding forced the Russian government to abandon the plans.

© Sputnik / Go to the mediabankPlan of St.Petersburg, 1716
Plan of St.Petersburg, 1716 - Sputnik International
Plan of St.Petersburg, 1716

This is not the first time Egypt has moved its capital, the first time being around 4000 BC, when Upper and Lower Egypt became united and moved its capital to the lost city of Thinis. Egypt is also no stranger to newly-built capitals, with the city of Akhenaten built in 1346 BC by Pharaoh Amenhotep IV.

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