Stella Dimoko Egypt Is Getting A New Capital - Courtesy Of China


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Tuesday, October 11, 2016

Egypt Is Getting A New Capital - Courtesy Of China

Egypt's new capital city moved a step closer to reality with the announcement that Chinese developers will largely fund the megaproject.

The China Fortune Land Development Company (CFLD) agreed to provide $20 billion for the currently unnamed city, after a meeting between heads of the firm and Egyptian President Abdel Fattah El Sisi.

This follows a previous commitment of $15 billion from another Chinese state-owned company, bringing the project close to its $45 billion budget requirements for phase I.

Plans for the new capital were first announced in March 2015. Government officials described the development as a solution to crowding, pollution and rising house prices in Cairo.

"Cairo Capital is a momentous endeavor to build national spirit, foster consensus, provide for long-term sustainable growth," said the project website

"(The) new city will create more places to live, work and visit."

Edited from CNN.


  1. Its about time Nigeria too have another city created, somewhere in the middle of Ondo and Osun. More Jobs Created, Reduces Congestion in major cities.
    Getting Tayad of Lagos Sef....

    1. Ondo and Osun.....? Those are names of what sef?

    2. What does the 2 states contribute economically to Nigeria that is worth investing that amount of money in the region?

  2. I envy this form of multilateralism.

    When will Nigeria ever have this kind of alliance?

  3. Oh I so love this. Pls Nigeria's capital should also be moved to any other under-developed state,as it will enhance development.

    1. ...and this is the best your small brain could concort and voice out through your smelly mouth?

  4. Good development, this one na government wey dey care about their citizens. They should carry naija capital to another place probably in the east.. Shikena

    1. Despite the clamour for Biafra? Right!


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