Cairo – Mubasher: The total land area allocated for implementing Egypt’s administrative capital as well as number of new cities amounts to 1.2 billion square meter, with total value of more than EGP 1.2 trillion, said President Abdel-Fattah El-Sisi In a long interview with three major state - run newspapers

The establishment of the new capital as well as the new cities across Egypt aims to restructure the country’s demographical distribution away from the agricultural area.

“The value of the lands being added to the country’s assets through the new capital and the new cities exceeds their cost of establishing,” said El-Sisi

The cost of establishing the new capital stands at around $45 billion, where it is expected to compromise 1.1 million residential unit.