Geoeconomics of Egypt's new capital

[The Lawspeaker]

For over a thousand years, Cairo has served as the heart of Egypt. Yet, some 40 kilometres to the east, the government is constructing a new capital. For over a thousand years, Cairo has served as the heart of Egypt. Yet, some 40 kilometres to the east, the government is constructing a new city, and if all goes to plan, it will act as the new seat of Egypt’s government. It promises to be bigger, better and newer, but a project of this magnitude also carries significant geo-economic implications.

Egypt is best known as the birthplace of civilisation and home to the only surviving ancient wonder of the world, the Pyramids of Giza. But the country’s latest mega project could be the largest yet: relocating its capital 30 miles east of ancient Cairo, at a cost of £35 billion and rising. ITV On Assignment's John Irvine visits the new capital city that promises a utopia: green spaces, mega malls, shiny and sleek housing - everything Cairo is not. But it comes at a price; most Egyptians won’t be able to afford even the cheapest new housing, leading critics to argue that this is a city for the rich. Opponents say Cairo could be left forgotten and abandoned as President El-Sisi moves his entire government to the new capital rising out of the desert.