"Egypt's New Capital Gears Up for Growth as Population Begins to Emerge"

Egypt is set to expand its new capital city, located 45 km east of Cairo, with plans to double its size to accommodate a growing population. The project, overseen by the Administrative Capital for Urban Development (ACUD), has already seen government employees move into the first phase of the city, which includes a 70-storey tower and significant cultural landmarks. Despite concerns over resource diversion and debt, the expansion will continue with the second phase expected to run until 2027. ACUD, partly owned by the military, aims to raise funds by floating a stake in the stock market by the end of 2024. The project is a key part of President Abdel Fattah al-Sisi's vision for economic development and aims to alleviate congestion in Cairo.