The investments injected into Egypt's new capital since its inception registered 250 billion Egyptian pounds ($15 billion) according to a statement by Administrative Capital For Urban Development – ACUD. The company further noted that the foreign investments injected into the administrative capital are gaining momentum, in addition the investments rates going as planned. Egypt is encouraging both foreign and local investors through providing all possible facilities, the company added. Located 45km (28 miles) east of Cairo, the anticipated new capital city is part of the Egyptian government's plan to expand urban areas to deal with the state's rapid population growth and improve the nation's infrastructure. The new city is set to be a 270-square-mile hub with 21 residential districts to accommodate five million people. It will feature 1,250 mosques and churches as well as 5,000-seat conference center, nearly 2,000 schools and colleges, over 600 medical facilities, and a park that is projected to be the world's largest.
