The ambitious project just received funding to move closer toward completion
by Carrie Hojnicki
ARCHITECTURAL DIGEST - October 20, 2016
As soon as it was announced in March of 2015,
Egypt’s plan to relocate its capital from Cairo to a plot of desert 28
miles east received a healthy dose of skepticism from critics at home
and abroad. With political turmoil dominating headlines and no shortage
of economic suffering, Egypt’s issues, it seemed, were simply too
significant to allow such a move. Last week, however, an unexpected
source pushed the project toward completion: China. Reviving the two
nations' shared centuries-old history, dating back to the Silk Road,
several Chinese companies have come forward to contribute the billions
of dollars needed to fund the development. The latest commitment comes
from the China Fortune Land Development Company (CFLDC), whose $20
billion pledge recently made headlines, joining a previous promise of
$15 billion from another state-owned Chinese entity. What’s in it for
China? you may wonder. According to the Atlantic,
which featured the capital project earlier this month, the Eastern
nation is in the process of bolstering its ties to the region in order
to encourage Chinese business development abroad.
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