Al Maqsad New Capital Egypt is a new city being developed in the eastern desert of Egypt. The project is being spearheaded by the Egyptian government and is expected to be completed by 2022.

The purpose of the new city is to alleviate overcrowding in Cairo, Egypt’s capital, and to create a modern, sustainable city that is capable of providing housing, employment and other services to millions of Egyptians. The project is estimated to cost around $45 billion and will cover an area of around 700 square kilometers.

The new city is expected to be divided into residential, commercial, industrial and agricultural zones, as well as a special administrative district. It will also include a new airport, a new seaport, a metro system, a new university, a medical city and a financial district.

The city will be connected to Cairo and other cities in the country through a network of highways and railways. It will also be connected to the Suez Canal and the Red Sea, providing access to the Mediterranean Sea.

The project is being funded by the Egyptian government as well as foreign investors from the United Arab Emirates, Saudi Arabia, Kuwait and Qatar. The project is also being supported by the World Bank and the African Development Bank.

The Al Maqsad New Capital Egypt project is expected to create over one million jobs and provide housing for over five million people. It is hoped that the project will help to spur economic growth in the country and reduce poverty.